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Cardano stops at $ 2 | But that could be a good sign

3 min read

 

One October outside the box for Cardano – which would seem to have accumulated a certain lag at least against the main cryptocurrencies by market capitalization. A situation that is causing impatience for those who have recently arrived on the market, who expected returns in the short and very short term.

The period that we had before our eyes was clear compression of the price, which has sailed just above or just below altitude $ 2, with a phase of lateral movements characterized by general stability.

Cardano lacks enthusiasm – but in reality it is just a run-up

The situation of Cardano it is unique – and it is not from today. Of course, with the major cryptocurrencies having recently beaten theirs price record it can be a source of disappointment to see $ ADA stops around the $ 2 for some time now.

In order to chase away the rumors that speak of crisis for Cardano, it will be more than useful to fix some concepts concerning this cryptocurrency and that makes it almost unique in the panorama of those for large capitalization.

By now Cardano has completely separated himself from the cycle of BTC, as much as from that of altcoin. It plays a game of its own and just as it has experienced a great phase of growth while the others were at the stake it is now slightly retreating – with a price stability that is unique in the market.

With the arrival of the smart contract on the platform of Cardano the enthusiasm of short period – which had also animated the cryptocurrency during the first part of the 2021. An enthusiasm, however, that could restart at any moment, thanks to some novelties of the protocol both in terms of technology and in terms of adoption.

The most important news for the protocol today: integration with EVM and Ethiopia

The two main innovations to follow in this period, as regards Cardano, on the one hand concern the arrival of the testnet from Milkomeda, which will allow developers to use Solidity, which is famously linked to the world of ETH to develop their own smart contracts.

Although very little is said about it, Milkomeda could be the keystone for the interoperability between the ETH EVM, now much more widespread – and the world of Cardano. Thus putting an end, even on a technological level, to a useless rivalry that no longer suits anyone.

In the meantime, updates are also coming from the African tour of Hoskinson, the project leader, who as our readers should now know, is personally involved in very important projects in Ethiopia.

Just two days ago the protocol leader sent a LOVES surprise directly from Ethiopia, to update on some fundamental aspects of the moment Cardano, including the converter between ERC20 and Cardano and possible future moves to Egypt.

The future of Cardano it is therefore anything but flat.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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