A big year for Cardano: what expectations are met

Cardano (ADA) had a spectacular year and even brighter future

26.Dec.21 9:22 AM
By Shawn Highstraw
Photo Clipart

305

A big year for Cardano: what expectations are met

It has been an eventful year for many cryptocurrency projects, including Cardano (ADA). In 2021, Cardano made a number of major updates that will prepare the network to potentially do beautiful things in 2022. In this article you will find an overview of the biggest developments of this year regarding Cardano.

Starting with the Cardano rate. The ADA price opened the year 2021 with a price of $0.182 and has risen considerably due to the major updates. With the current price of $1.43, ADA is 700% in the plus.

This year, a new all-time high (ATH) was also established. The highest price ADA has ever achieved is currently at $ 3.16 on crypto exchange Binance. Compared to the price with which 2021 was opened, Cardano was currently more than 1,600% in the plus!

What were the updates that caused the positive sentiment? First, that was the Mary hard fork in March. That update made it possible to launch tokens, and therefore also non-fungible tokens (NFTS) on the network. It was an important step in the development of Cardano, which, like Ethereum (ETH), aims to provide a foundation for other projects to build on.

However, the biggest update of 2021 was the Alonzo hard fork in september. That update made it possible to develop smart contracts on Cardano. This finally made it possible to launch decentralized finance (DeFi) applications, for example. The expectations for this update resulted in the aforementioned ATH of $3.16.

Nevertheless, Cardano is still at an early stage and there is still no talk of large amounts of projects on the network. The fact that the Cardano ecosystem did not explode immediately was probably the reason for the correction of more than 50% since the Alonzo update.

Back to the list

Related Information:

World, Business and Lifestyle News