The year 2022 was less successful for Cardano from the ADA course side. But these price losses are understandable given the bear market. Nevertheless, the project hopes for a successful year in 2023. The signs are not bad despite the low prices of ADA. Will Cardano reach 1 $ after the FTX crash? Let’s see what ADA holds in this Cardano prediction.
Cardano 2022: How did ADA perform?
In the bullish year 2021, the ADA price saw massive gains, and the Goguen development phase was completed with the implementation of smart contracts. A year later, work on the scalability of the Cardano blockchain begins. This phase of development is called Basho and it started this year.
The first big step was the Vasil update . This significantly increases the transaction throughput of the Cardano blockchain. Furthermore, Cardano is in the development of the layer 2 scaling solution Hydra, which should also massively increase the speed again. At the end of 2022, the network took the first important steps to make its network extremely scalable.
Cardano 2023: How will Cardano perform next year?
Despite the price losses of the ADA token, 2022 was a very exciting year for Cardano. Despite the usual delays, the network is still on an excellent path to becoming possibly the most technically mature and successful blockchain in the future.
The year 2023 should bring the maturity of the functions that guarantee massive scalability in the network. But other interesting projects are also planned for Cardano in the coming months.
What are the most important Cardano projects in 2023?
At this year’s Cardano Summit, developer Emurgo recently announced the development of its own stablecoin for early 2023. This is said to be the USDA stablecoin. It is based on the well-known USDC (Circles USD-Coin). With the USDA, users can convert their US dollars directly 1:1 and thus participate in the Cardano DeFi system. Especially the DeFi growth is one of the most important goals of Cardano, since the use cases are comparatively still very small.
The algorithmically supported stablecoin DJED could be launched before the USDA. This should give easy access to stablecoins in the Cardano ecosystem. This would open the way for the network to support decentralized payments with the US dollar worldwide.
Another important project for 2023 is Cardano’s own privacy chain called Midnight. The developers have been working on this project in secret for the past few months. It is said to be a Cardano side-chain, which is said to have its own token called Dust and anonymously executable smart contracts. This privacy chain should also include possible access for regulators without breaking the privacy of users.
How can those projects affect the Cardano Prediction?
In 2022, the ADA token lost massively in value. However, this was due to the development of the overall market with a strong bear market. However, the year 2023 could be more positive for the ADA course again.
On the one hand, the developments mentioned are promising and could again attract many new investors to Cardano. On the other hand, the overall market should move upwards again. The second year of the bear market was already in the last cycle a year in which prices at times rose more strongly again. This could also be the case again in 2023.
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This article has been originally published at: https://cryptoticker.io/en/cardano-prediction-2023-will-cardano-reach-1/