Cardano adopts a community-based development approach
One of the reasons for Cardano’s success is accessibility. Cardano (ADA) is available at $0.85 for a unit at this time, making it easy for both small-time investors and whales to grab a piece of the pie.
Furthermore, Input Output HK, the parenting company, recently revealed that there’s 900 projects in progress on the block chain at the minute. One of them is Lending Pond – the first ever NFT loan platform, already holding a trading value of 90,000 units after the first week.
Stablecoins coming into ADA blockchain in the nearest future
The next step for Cardano is launching stablecoins on its blockchain. This was proudly announced by founder Charles Hoskinson, claiming that USDC and Tether are going to be the safer option during up-and-down market conditions.
Tether and USDC will come in wrapped tokens, which serve as a virtual vault, so the wrapped assets are equal in price to the original assets. This new feature will come to light together with the installation of the ERC-20 version of the stablecoin.
Cardano price is yet to see any significant increase
In spite of having a whirlwind of activities inside the ecosystem of ADA, the cryptocurrency peaked only at $1.26 since February and doesn’t meet even half of its ATH at $2.96. This all time high was mainly achieved because of smart contract introduction.
At the current price, only 9% of the account holders are in profit. A whopping 88% of wallet owners are in deficit, while 3% are balancing around the same amount they invested.