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Popular Crypto influencer Austin Arnold, believes Cardano Price to explode in 2021, with all the bullish development going on for the platform.
Arnold tells his 609K followers, ADA has been above the $1 price mark for over 33 days, and the blockchain’s ecosystem is growing in all means. recently 120 Million ADA has gone back into staking.
There has been a massive uptrend in all the metrics such as delegated wallets, total ADA staked, Number of ADA wallets, New ADA wallets per day, and total wallets staking
He further says the platform’s smart contracts are going live by the end of July, making it a ready contender to Etheruem.
“If you combine that functionality with project catalyst, basically think of this as an incubator for different projects in Cardano ecosystem, not only helping projects monetarily but also strategically..”
Hoskinson’s ambitious takes.
Moving on, he highlights, Cardano founder Charles Hoskinson’s plans for NFT’s on the platform, the Network effect of Cardano, and future plans that will shape the growth and price spike of ADA in 2021
NFT’s on Cardano
Hoskinson believes NFT marketplaces have become a big deal and he’s been researching how this new cool thing in the industry can be different and better on Cardano.
“A lot of these problems about Metadata, identity, authentication problems about governance we have native capabilities built into Cardano from catalyst to metadata standard from how we handle native multi-asset that I think will make us probably one of the best platforms to issue curate and transfer an NFT”.
Platform’s Network Effect
He says he does not care about network effect, if they are not sticky enough to retain the interest and provide service at reasonable fees, platforms are going to die.
It’s not about Ethereum or uniswap, Users will migrate to the platform that provides facilities at a lower fee, and that is why in the next few years he believes most of them on other platforms will shift to Cardano.
What Future Holds for Cardano?
Hoskinson says Cardano is now where Ethereum used to be in the early years, and it is definitely growing every day. He also says the platform will be using $15 to $30 Million for Scientific research this year. and 100 to 200 people will be added to the workforce this year.
Conclusively he says Cardano will stay for the long game, irrespective of day-to-day social media positive or negative storms.
Taking these factors into consideration analyst Arnold says,
” My opinion, ADA is one to watch in 2021″.