Cardano’s growth is now undeniable. The blockchain, as well as the ADA cryptocurrency, are becoming the protagonists of 2021.
Let’s start with the cryptocurrency, ADA, which opened 2021 at 18 cents, and then grew almost 10 times, reaching a peak of $1.48 in recent days.
A rally also dragged by the upgrades that the blockchain is undergoing. The first in order of time, during this 2021, was the Mary hard fork, an upgrade that now allows the creation of native tokens on Cardano. A bit like what happens on Ethereum. So much so that on Cardano the first NFTs have already been issued, the CardanoKidz, which have already sold the limited editions of the first 3 sets.
In recent days, the price of ADA has also been driven by its listing on Coinbase Pro. The addition of ADA to the trading platform has sent the cryptocurrency’s price soaring.
These pieces of news are overwhelming and exciting
Cointelegraph notes that in addition to the record price, ADA can boast another record: it has broken through the quota of $1 billion in open interest on futures contracts. A milestone that until now was reserved for only two cryptocurrencies, Bitcoin and Ethereum.
Cardano, growth in the use of the blockchain
Messari also notes that Cardano has already overtaken Ethereum in terms of daily transactions and is now second only to Bitcoin. According to his survey, Cardano boasts $13.5 billion in daily volumes, Ethereum stands at $8 billion. Bitcoin remains firmly in first place with $26 billion in volumes.
It is also worth noting the vertical growth in the number of addresses on the Cardano blockchain. Again according to Messari, there are 131,000 active addresses. This platform sees Cardano as the sixth-largest blockchain by the number of active addresses.
In short, 2021 is turning out to be the year of Cardano. The blockchain numbers and the ADA price testify to that. If anything, some say it’s only just the beginning.
According to some forecasts, the price of Cardano could reach $10 by the end of 2021. It could even reach $22 in 2022. Regardless of the accuracy of the predictions, what is certain is that Cardano is positioning itself to be a benchmark for the cryptocurrency industry.