Technology

Will Cardano go back up? This is the popular cryptocurrency ADA

Cardano (ADA) has always been on the list of the most important cryptocurrencies. This crypto has been in operation since 2017, and as you surely know behind it is Charles Hoskinson, one of the main managers of Ethereum. Cardano reached its historical maximum last September, but since then it has done nothing but lose its value, although it is true that in recent weeks there have been interesting movements around it. Is the future of this cryptocurrency promising?

The value of Cardano has always been a topic that has been on the lips of all cryptocurrency connoisseurs and investors. After reaching its maximum value, it seemed that the value of ADA would continue to rise over the weeks, but the opposite happened. Edickson Aguilera, ambassador of the Cardano Foundation in Venezuela and owner of a Hispanic stakepool in Cardano called Bless, explains that its current value is due to not having met the high expectations that had been placed on it.

A project heavily hit by criticism

As we say, Cardano had a very high explosion of popularity from practically its beginnings, since in fact it was considered as direct competition from Ethereum or other important ones such as Solana and Avalanche. However, all that popularity and hype has worked against it, since its development takes time and many investors expected that the benefits with it would be overnight. In the words of Edickson Aguilera:

This current price is a consequence of not meeting the expectations of many, because there are many people who believed that an ecosystem like the one that is being developed in Cardano would be ready overnight and that the price was going to grow a lot, but it is not so this requires time to do things right, that’s why Cardano is a long-term project.

According to Aguilera himself, most of ADA’s detractors are early investors that they are throwing garbage at it because they have even already sold (despite having great losses), as well as explaining that there could be detractors paid by the competition because there is fear of Cardano’s potential in the future:

The number of detractors and people who throw garbage at Cardano are those who thought of getting rich overnight with it but it turned out that it was not so, and today they are at a loss or worse, they sold at a loss. Another group of detractors would be those who are paid by the competition to damage Cardano’s image, since they are very scared of its potential, so without further ado, be patient with all holders and support small pools, especially Hispanics.

Will it improve the value of Cardano?

Despite the fact that Cardano has been in a downtrend for quite some time, the future of it seems to be quite promising. The company in charge of promoting the creation of ADA, Input Output, published a few hours ago on its Twitter account that there are currently 917 projects under development on the networka figure that has increased tremendously in the last month if we take into account the projects that were during the month of March (around 500).

To this we must add that Another big update for the Cardano network is coming in June. This one, known as Vasil, will be a hard fork and should greatly improve the performance of Cardano, so the future of this coin for the remainder of 2022 is bright.

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