6YO Cardano Still Compensates Lack Of Adoption With Plans & Hopes
Cardano (ADA) has been one of the better performing major cryptoassets this year. When bitcoin (BTC) started tanking following Tesla’s rejection of the cryptocurrency in May, ADA began a climb up to its current all-time high of USD 2.45 (per Coingecko), largely because it was one of the few major proof-of-stake (PoS) platforms.
And while ADA has since fallen from this peak (set on May 16), at the time of writing, it has dropped by ‘only’ 45%, which is less of a post-ATH dive than that experienced by BTC (49%), ethereum (ETH) (51%), binance coin (BNB) (55%), dogecoin (DOGE) (69%), and polkadot (DOT) (69%). That it has been able to retain a bigger portion of its former value than most is an indicator of the excitement and hype it has been generating recently, with founder Charles Hoskinson generally wasting no opportunity to talk it up.
But how much progress has Cardano, founded in 2015, been making recently as a platform, and is it ready to attract significant adoption once it launches smart contracts (and other features)?