Cardano (ADA) just like the majority of the cryptos in the market experienced highs and lows in 2018. The coin was worth $1.32 in January but currently trades at $0.04 as at the time of writing this article. This has seen some analysts express dissatisfaction in the direction the project is moving towards.
However, in the real sense, Cardano has emerged as a better coin this year than in 2018 due to the level of developments carried by the Cardano (ADA) team. The latest slump in the market towards the end of 2018 has seen many speculate which coins are going to be sustainable in 2019.
Cardano has been mentioned in this sphere and the coin has shown its resilience in the market since its launch in 2017. We have highlighted 3 reasons why we believe that Cardano could make a quick jump in value in the 1st quarter of the year.
Cardano (ADA) Has Seen Huge Increase in User Base
Despite the slump in price last year Cardano (ADA) has seen an increase in users as the crypto gets more acceptance by more businesses. The blockchain solution has put many developments into making their platform accessible to users.
The blockchain has over 100,000 followers on Twitter and over 70,000 members on Reddit, and more than 30,000 on Telegram and Facebook. The coin sits 11th in terms of MarketCap which shows that many investors are buying into the coin.
Big developments expected with the Shelley Phase of updates
Cardano is expected to launch the next phase of updates which would make the coin more decentralized. The launch phase named Shelley according to Cardano (ADA) representatives would make the crypto 50-100 times more centralized
Some of the changes expected to be introduced are increased stake pools and complete autonomy during transactions. This latest updates according to crypto analysts could see an increase in usage of the coin.
Cardano (ADA) Development Team Has Shown Long Term Commitment To The Project.
Cardano (ADA) foundation which oversees the monitoring of the blockchain has shown immense dedication to the success of the coin. Unlike other cryptos whereby announcements are made without a clearly thought out plan, Cardano have stayed largely out of trouble in the news.
Cardano’s co-founder Charles Hoskinson recent comments have made the headlines in which he insisted that it could take up to a decade for blockchain solutions to fully mature. This revelation shows that the development team is looking long-term during this period of recovery.
It remains to be seen if these translate to a rise in price but only a few would bet against Cardano not making a rebound in the 1st quarter of the year.