Cardano's Decentralization a "Wake-Up" Call, ADA Price to $1?
In a recent YouTube video, Cardano (ADA) founder Charles Hoskinson said that the project’s decentralization would act as a “wake-up” call for the industry. Hoskinson noted the project’s firm focus and...
In a recent YouTube video, Cardano (ADA) founder Charles Hoskinson said that the project’s decentralization would act as a “wake-up” call for the industry. Hoskinson noted the project’s firm focus and advancement despite criticism.
According to Hoskinson, Cardano is getting more decentralized and significant every day. He hailed the ADA project as an ecosystem that continues to grow and flourish each month. He also pointed out that ADA was created entirely from scratch. Hoskinson said that other crypto projects must pay attention to ADA’s progress.
Hoskinson said that decentralization of the Cardano (ADA) would someday become part of crypto regulatory frameworks. He said that decentralization metrics might become a crucial part of regulatory standards. It might act as an indicator of the legitimacy and regulatory handling of different digital assets. Moreover, he said that regulators may treat a crypto project with more decentralization as a protocol or a commodity.
Will Cardano’s price reflect its decentralized advantage?
Although Cardano (ADA) has several commendable features, the asset’s price has not reflected the same. Development and launch delays have previously hindered ADA’s popularity.
ADA has broken below $0.3600, following several days of a downward trading pattern. The most recent Cardano price analysis reveals a bearish trend in the market. The market is now under the power of the bears, who are driving down prices. In the last seven days, ADA prices have fallen by 3.1%. Moreover, the project is down by a whopping 88.39% from its all-time high of $3.09, attained in September 2021.
However, Cardano (ADA) still has the potential to push past the $1 mark, although it may take some time. Moreover, the general crypto market sentiment has to significantly improve, if ADA is to show some positive price action. The ADA network is home to a lot of new projects and shows a lot of promise for future growth. Moreover, the project has repeatedly topped the development charts. Development activity is a solid metric to judge the future performance of a project.
At press time, ADA was trading at $0.358572, up by 0.2% in the last 24 hours.
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