The sixth-largest cryptocurrency by market capitalization is making rounds in the crypto town. As the platform’s use cases escalate to greater highs, alongside the initiatives that continue to reinforce the protocol. The buzz has been harvesting the interest and curiosity of enthusiasts in the crypto fraternity.
Projects built on the Cardano blockchain are flourishing at an accelerating rate. Projects like ADAlend, and community media launchpad Flickto have been raging ahead, instilling the faith of the masses in the Cardano blockchain. However, the price of ADA remains unaffected by the catalysts fueling the blockchain.
Reactants Triggering Cardano
Cardano-powered community media launchpad Flickto accompanies media financing to the masses. Flickto allows ADA users to find media projects in return for a reward. Flickto also provides financing to creators and artists through pools funded by investors.
ADAlend a decentralized lending protocol on the Cardano blockchain. Makes use of Cardano’s smart contracts to ease out the nerve-wracking process of loans. The protocol needs no prerequisites in order to contend in the lending operation. Anyone can deposit any amount and receive the associated APY value set by the protocol in share tokens.
The blockchain’s first ERC-20 converter AGIX goes live on Cardano testnet. In the initial testnet version, users can move singularity NET’s AGIX tokens to Cardano and back to Ethereum via the permissioned bridge. AGIX is a major step towards interoperability betwixt blockchain to establish a functional environment for De-Fi. In addition, Plutus based smart contracts have been on a steep incline.
Cardano (ADA) Price
ADA price at the time of press is trading at $1.26 while registering dips of 5.7%. The market capitalization of ADA is hovering at about $40,421,061,648. While the volume of trades around the clock is at $1,522,024,347.
Cardano’s price has been trading in the bandwidth from the lows of $1.26 to the highs of 1.34. The ATH of ADA is currently far from sight at $3.09, the current price falls short by 59.1% from the ATH. From the charts, the steady downfall is clearly evident that. ADA price could further plunge to the clutches of bears at levels around $1 if the bulls fail to yank the price from the current trend.
Collectively, Cardano has been on a treacherous cycle ever since the Alonzo hard fork upgrade. The stimulants have been ineffective in triggering the price surge of ADA. Netizens have been awaiting major upgrades in the protocol, which could help the network retrieve the lost shares. Hopefully, with the commencement of 2022, Cardano would rise from its shadows.