Let's go back to '21, no smart contracts, no DeFi, no DEXes... ADA at 3$. The smart contracts era came to Cardano in September '21. Fast forward now, in just 2 years the Cardano DeFi is booming and it's been booming throughout the bear market times as it can be seen on this defillama chart. No other major blockchain (ETH, SOL) witnessed a TVL growth in the native currency during the bear market like Cardano did. For the first time ever, Cardano just entered the top 10 chains by TVL in $ as it can be seen on this defillama chart. Note that Cardano has no USDC or USDT options like other chains so to be in the top 10 is an incredible achievement. It has 2 stablecoin options which are still limited though: DJED (overcollateralized algorithmic stablecoin) and iUSD (synthetic $ asset). Most tokens on Cardano DEXes are still priced vs. ADA. Cardano had its own memecoin mania called $SNEK back in May '23 during the deep winter of the bear, look at the volume then. The mania with Cardano native tokens started again in December and the daily volume on DEXes is exploding as it can be seen via taptools.io data. Besides the memecoin $SNEK , the gaming tokens on Cardano will be the next big thing during the next cycle like DEADPXLZ's $DING and some others like $CLAY, $COPI... $LENFI, $LQ, $INDY are lending and borrowing protocols +- similar to AAVE or Compound... The top 50 tokens are really diverse and can be seen on taptools.io site. This time Cardano has a thriving ecosystem with multiple lending/borrowing protocols, synthetics, stablecoin options, DEXes and aggregators, great NFTs and gaming projects. The new teams and new projects are popping up like crazy and people are just coming up with new crazy ideas to harness the magic of Cardano's unique eUTXO model bringing the enterprise grade trading experience (check out axo.trade for example) like you're on a CEX. Also, options, indexes, baskets, perpetuals, you name it, it's there or in the pipeline for coming months! So, if you're wondering why ADA price is going up, it's because, this time for the first time Cardano is actually totally ready for the bulls and it will probably be one of, if not, THE best performing major crypto asset this coming bull run! [link] [comments] |
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments