Today, we’ll talk about some of the latest Cardano news. We have some really exciting pieces of news about Cardano so we’re here, taking the opportunity to share with you the predictions and updates concerning Cardano Ada.
One of the first things to point out is that Cardano is now being traded on Bitstamp. It is live and ready to be traded, which is a huge move for Cardano as Bitstamp is one of the largest exchanges in all of the cryptocurrency space. Especially for people that are particularly interested in just the trading, or Ada, aspect of this network.
Now, there are a couple of other things that we’ll go through so we’ll dig into a little bit more about the technology, and where we think this is going in the long-term. Personally, I’m into Cardano for the long-term. I’m really interested in the long term play rather than the day trading aspects of cryptocurrency, and I believe Cardano is meant to flourish in long-term.
One of the GitHub repositories that we follow is the cardano-node, which has been extremely active over time. Over the last 30 days, we see over 340 different commits across almost 6000 different files. This is, of course, a huge engagement. This is an extremely active community that is actively developing against it.
And we believe this is what’s going to turn into the long term play. The stats we just went through is very dominating over any other cryptocurrency, and it’s evident that Cardano is simply one of the heavily developed blockchain technologies out there.
Moving on, another exciting piece of news is about Cardano passing 20 million transaction mark without a single outage in 4 years. I believe what we’re seeing here is a lot of long term plays as a third-generation cryptocurrency. And it’s certainly starting to show here and it’s huge that Cardano achieves such a milestone without a single outage in 4 years. This is ultimately proof that those who put this together have really thought through the process and they’ve really learned from the lessons of the past.
Now, we’ve definitely seen Cardano price slide. We’ve definitely seen this and we’re not naive to this, and we’ll never ever be. We saw a peak around $3 in September, around the time of Alonzo Fork, but we’re seeing it steadily decline since then. We strongly believe what we’re seeing here is a natural growth, which favors the long term growth of Cardano.
We’ve seen this happen over and over with a lot of other cryptocurrencies as we’ve been analyzing and following the crypto world over the last 5 years.
Next, we’ll dive into the claims of difficulties that Cardano faces using Haskell. We’ve been building against the Haskell chain and it is pretty true that it’s not super easy. So there are some valid claims but I think there’s really a long term play here again. And although Hoskinson has been responding to the criticisms of lack of dApps, we honestly do not really agree with such criticisms. We believe there’s been a lot of really good development with Cardano, and we really keep seeing them pile up.
So there’s development on Cardano, but there’s also development on some of the other dApps that are coming. We, for one, are building against it and we’re really excited by the prospects so far, as well as its unveiling in the next 10 days. So make sure to keep track of our blog and our YouTube channel, where you’ll find a lot more of quality information.
Next up, we’ll look a little deeper into the transaction count of Cardano. We’ve talked a lot about this in our previous article, so make sure to check that out for some backstory into what we’re about to say next. Breaking down the transaction chart, we saw a really good growth earlier this year, between February to mid-May. This is an important growth that we’ve seen and I believe it’s a healthy, natural growth.
We then saw some cooling over the summer. I don’t know if it’s just the people going on vacation or what, we believe it’s just the natural peaks and valleys that we see among technologies as they get hyped. And some of this may come back to part about Haskell, where people could’ve gave up on developing on it, given the fact that Haskell isn’t a very common language and it’s hard to find developers for it.
And then, we saw Cardano’s transaction curve really take off from August when they announced the support for Smart Contracts. Ultimately, we believe we’ll end up seeing the hockey stick that goes up. And it’s slowly starting to show as the transaction count just hit the all-time high today.
Looking at the analysis above, we can see the transaction count and price really following each other. We’ve seen them both mirroring directions through the growth and the cooldown. And now, we can see the wedge taking form, which could be potentially shaping up for the natural growth here.
As we build on these applications, we believe it’s actually healthy because it’s going to keep our transaction costs low. We’ll soon drop a blog and a video that compares the Cardano transaction costs with Ethereum so make sure to follow our blog and our YouTube channel to stay updated.
Ultimately, we believe Cardano is positioned to be sustained for long term use. If we had seen the continued growth rather than the wedge shaping up, the transaction costs would’ve gone up. But as we’re seeing the wedge take shape, we believe we’re seeing the natural alignment of the price to the transactions.
Personally, I’m buying in right now. I believe there’s a huge potential growth in the 1-5 years. This is not a financial advice but just a personal opinion, reflected from the analysis and research that we’ve done.
So these are some of the news, updates, and analysis that I’ve been watching about Cardano. Thank you for sticking with me to the very end. We hope this has been valuable information to your journey to skyrocketing with Ada. You can keep track of our blog or YouTube channel to stay updated about Cardano every day. 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 predictions, kindly check out the video below: