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Cardano Prediction 2023: Will Cardano Bounce Back To $1 After FTX Crash?

 


Cardano 2023: How will Cardano develop in the next year?

Despite the ADA token's price losses, 2022 was a very exciting year for Cardano. Despite the usual delays, the network is still on an excellent path to becoming what may be the most technologically mature and successful blockchain of the future.

What are the most important Cardano projects in 2023?

At this year's Cardano Summit, developer Emurgo recently announced the development of its own stablecoin for early 2023. This is said to be the USDA stablecoin. It is based on the well-known USDC (Circles USD-Coin). With the USDA, users can exchange their US dollars directly 1:1 and thus participate in the Cardano DeFi system. DeFi growth in particular is one of Cardano’s most important goals, as the use cases are still very small in comparison.


Algorithmically-backed stablecoin DJED could launch before USDA. This should allow easy access to stablecoins in the Cardano ecosystem. This would pave the way for the network to support decentralized payments using the US dollar worldwide.


Another important project for 2023 is Cardano's own privacy chain called Midnight. The developers have been working on this project in secret for the past few months. It is said to be a Cardano sidechain that is said to have its own token called Dust and anonymously executable smart contracts. This privacy chain should also include possible access for regulatory authorities without violating the privacy of users.


How can these projects affect Cardano prediction?

In 2022, the ADA token has lost massively in value. However, this was due to the development of the overall market with a strong bear market. However, 2023 could be more positive for ADA price again.

On the one hand, the developments mentioned are promising and could again attract many new investors to Cardano. On the other hand, the overall market should move upwards again. The second year of the bear market was already in the last cycle a year in which prices at times rose more strongly again. This could also be the case again in 2023.



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