Today, we’ll look into the price of Cardano as well as some interesting announcements that have been made. Additionally, we’ll also be looking at some of the things that Charles Hoskinson, the founder of Cardano, talked about and an Ada price prediction to round off the day. So without holding you back on the intro, let’s get right into the 3 big Cardano updates and other big news around Cardano.
We saw Cardano drop today. Not a huge drop but definitely a little bit of drop comparing the last few days and especially from the peak that we saw on December 27th of 2021. It’s down to around $1.31 and I personally will be buying in right now because I believe as we move into 2022, there’s going to be a lot of bullish trends around Cardano as we see more and more of the things that we’ll discuss below.
One of the big announcements is a decentralized cross-chain NFT marketplace. Verlux is a new project based on the Cardano blockchain. And ever since announcing their token sale to the public, over 35% of its token allocated for the pre-sale got sold out in a few hours.
Notably, Verlux is building the biggest cross-chain NFT platform on the Cardano blockchain that will ultimately enable users to mint, buy, and sell NFTs. Having a unique system with the Novel Cross-Chain Swap protocol, Verlux will be able to enable users to easily swap NFTs based on other blockchains to the Cardano blockchain – all while retaining the NFT data authenticity.
So this is a big announcement, and overall, we’re just seeing a lot of really interesting movements around the Cardano based NFTs. And I think this is really going to be a big move in 2022 as the Cardano NFTs continue to grow.
Moving on, let’s take a look at some of the things that Charles Hoskinson was talking about. Hoskinson, in a recent educational vlog on YouTube, talked about some of the big plans that the Cardano network is looking forward to achieve in this new year.
Development for Cardano in 2022 includes 3 hard forks and the development of an extensible UTXO (eUTXO) smart contract infrastructure. Hoskinson explained his plans by comparing how Bitcoin smart contracts are written, how Ethereum Virtual Machine (EVM) smart contracts are written, and how he hopes to occupy a middle ground for Cardano.
Hoskinson is trying to get the work done on the new eUTXO by October, and they’re going all in on it without sparing any expense. There are 3 hard forks to watch for in 2022 – one is in February, one in June, and one in October. The company behind Cardano, Input Output Global, already has 100 engineers under their arsenal to work on this new development in addition to enlisting 15 external companies to provide code. This is a model that we’ve used in the past as well where we used other companies to provide us the code, and the actual developers take this code and plugs them in.
So this is a really good way to move quickly and efficiently, but still maintain quality. I’m excited to see what happens to Cardano as we move through this year and go through those 3 hard forks.
Moving on, Hoskinson also mentioned that there’s a reason why Cardano topped in GitHub commits. He mentioned that his team will be working together to build up the DeFi ecosystem in the next 6-9 months. He also mentioned how he left governance for as it is, without touching or tweaking the system. Hoskinson believes that as a major reason why Cardano progressed to become the number one in GitHub contributions. You can read more about the most developed crypto on GitHub here.
So it’s interesting to see that Ada is really investing in the future and I think even if you’re looking at this just as an investor, I believe this should give really give you a good plan to go 1, 2, 3, or 5 years. And as you do that, we’re going to see huge leaps for this.
Finally, we’d like to go through some quick price predictions for ADA. As far as we know, and what the price chart of ADA can suggest, we believe that ADA can potentially spike up to $2 in the coming months. This is strictly not a financial advice but just a personal opinion from what I’ve observed.
Obviously, we’re currently in a dip now but it could also suggest that it’s the right time to buying in. So it will be interesting to see where this goes in 2022.
Thank you for sticking with me to the very end. We hope this has been valuable information to your journey with Cardano. You can follow our blog or YouTube channel to stay updated about Cardano, and cryptocurrencies in general, everyday. And as always, make sure to keep your kids protected with CleanRouter and CleanPhone. This lets you have the ultimate parental controls with how your kids use their phone 🙂
If you’d like to learn more about the latest updates on Cardano and its price predictions, kindly check out the video below:
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