Cardano moves with decided cuts since it marked last September 2 at 3.11 dollars per unit, in a movement away from the maximums achieved in recent months by Bitcoin or Ethereum, for example. But nevertheless, its progression so far this year continues well above those cryptocurrencies. And it is that despite the cuts it is preparing to face new updates that allow it to progress and increase the scalability of its network.
The cryptocurrency just surpassed the 2 million wallet mark for your ADA, after exceeding one million on May 22. A period in which the Alonzo update occurred and that led to the all-time highs of the virtual currency and is now preparing for the Hydra update. In this technological development, its founder Charles Hoskinson has put on the table, from ADA’s position in the Metaverse to Hydra in 2022.
In his opinion, the Metaverse is going to become, in a horizon of between 5 and 10 years, in a category, he says, of huge products for cryptocurrencies, so that each person, facing the advertising tokens that have to arrive, will be able to decide what information people want to share to obtain benefits and also discounts in the system.
Among the projects stands out the Pavia.io, the Metaverse Cardano is building. The name comes from the place where the mathematician Gerolamo Cardano was born in the city of Pavia in September 1501. In that tribute Pavia is the virtual world, in which already 29,000 parcels of NFT land have been sold with more than 4,000 owners
The idea is that Cardano’s blockchain transactions after the next update barely take a second, even less to complete. Also an improvement in their rates to reduce user costs. All this to increase the capacity of the demand. At the moment the network is already enabled to accept Smart contracts, one of the most anticipated requirements by the community.
The truth is in many respects it is gaining a lot of ground from Ethereum. The first occurred at the end of last week when its daily trading volume, its transactions rose above those of the second crypto in the market. In fact, at the pinnacle of AIBC games This altcoin has been considered the best DeFi project on the market.
In its quotation graph we see that ADA has already lost more than 11% in the last five trading sessions, it has lost 16.1% in the month and its quarterly record is negative at 38.36%. Of course, in the year it rises above 890% while since November 2021 the advance reaches 1,064%.
All these factors can lead to a shift in Cardano’s ADA bearish bias from its highs. And we remember its progression: from 556% that rose in March to the levels of 890% that rise now.
For the less initiated, remember that Cardano is the most literary of the cryptocurrencies on the market. ADA its stock symbol is the name of Lord Byron’s daughter and Gerolamo Cardano, in addition to being a mathematician, was a great man of the Renaissance from doctor to philosopher, the virtual currency was born in 2015 but its market price dates from 2017. Since it began trading, it has appreciated more than 9,000% in a stratospheric advance for the cryptocurrency in the market.
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