Cardano shocked the crypto space by outperforming Bitcoin and Ethereum by 75% and 453%, respectively, in 2021. It has everything next-gen cryptos want their blockchain to be, from consuming the latest power to scalability. It is also faster and charges low fees. People wonder if the price of Cardano will soon double.
And they have good reason to believe it. At the end of July, Cardano began to rally steadily and peaked for the first time in the past two months. Although the comeback happened quickly later, it was enough to make the crowd believe that Cardano would soon break above the $1 mark.
Here are the 4 reasons why we think the price of Cardano will double
The launch of the Vasil Hard Fork mainnet
Cardano’s developers take the whole decentralized aspect way too seriously – constantly updating blocks and transaction records to ensure there is disparate control of the blockchain. This is important as the blockchain ecosystem is growing and more foreigners are flocking in.
And whenever news of an update starts circulating, crowds come to CEX and DEX to rally ADA. It happened with the Mary Hard Fork event and now with the Vasil Hard Fork.
Named after Bulgarian scientist Vasil Dabov, this upgrade honors him, who once backed Cardano and passed away recently. With the arrival of this upgrade, Cardano’s functionality will likely increase significantly by increasing its network capacity and smart contract programming.
Simply put, the new upgrade will streamline the application development process and improve the overall user experience of the ADA network. This will likely do wonders for improving the adoption rate of blockchain – reducing the price even further.
Now, the launch is not here yet, but the latest update has made the crowd optimistic that it will arrive soon. During this update, Input Output, the creator of Cardano, revealed that the upgrade will be launched subject to the following conditions:
- The last candidate node must build at least 75% of the mainnet blocks.
- The upgrade should be adaptable with 25 exchange platforms.
- Node version 1.35.3 should work with Dapps developed on Cardano.
The update will be released as soon as the developers can reach these milestones. That said, we’re not sure how close the developers are to these requirements. And that may be the reason for Cardano’s recent plunge.
Consistent updates across the Cardano ecosystem
Cardano is an efficient system created to simplify the developer’s life by offering easy-to-use tools for developing applications. This is partly possible thanks to Cardano’s research-driven and peer-reviewed updates.
We mean that, unlike other blockchains, to launch indiscriminate updates as if trying to plug a hole or put a band-aid on a problem, Cardano takes a different approach. It weighs in on every update before launch. Even then, the updates it provides are consistent.
As a result, most Cardano updates have been successful and have consistently updated the quality of the blockchain. Part of that reason is that developers understand to approach cryptographic technology with care.
According to Cardano developers, there are over 1,000 Dapps in development on the Cardano blockchain simultaneously. And due to the simplicity of the platform, this number keeps growing.
Conventional crypto technologies would cause a host of scalability issues, but not with Cardano. As the basic architecture of this ecosystem was designed to evolve with new blocks and applications, there is always room for more dapps to arrive.
Crypto whales rally behind it
Sometimes when you see the intraday trading candle is way too long in the green, don’t think there are a lot of people buying crypto. Such candlestick patterns appear because of whales – crypto millionaires or institutional investors who buy tokens wholesale in a single day.
In the past two months alone, crypto whales have purchased over 100,000 ADA tokens. But creating buying pressure isn’t the only thing driving Cardano’s price; they are also the ones who hold the token to pump its value. Over 10 million tokens are part of the short squeeze – not being sold, pushing the price to even higher levels.
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Tamadoge is another crypto set to bring massive gains
With Cardano confident enough in the crypto crowd to double in value over the next couple of months, another crypto has hit the scene, gearing up to make 10x first-mover gains.
Known as Tamadoge, it is a crypto metaverse that is inspired by memecoins such as Dogecoin but has a game utility.
The developers recently launched Tamadoge to the public as a pre-sale beta with the idea of starting the general pre-sale with 2n/a September 2022. But the beta presale was successful, and the goal was reached way ahead of its time, and now the general presale has already started. As of this writing, the project has already raised over $5.8 million.
Also, unlike other crypto presales that end up on DEX after the presale ends, Tamadoge has its sights set on the CEX listing. The team behind Tamadoge says that once 50% of the tokens are sold, TAMA will go on a centralized exchange with a high reputation.
But why is the crowd so optimistic about Tamadoge? Here are the four reasons.
It has a doge aesthetic and the commercialization that comes with it. Rumors have already swirled that Elon Musk might be interested in Tamadoge.
Powerful Play-to-Earn Ecosystem
Tamadoge (TAMA) powers the play-2-earn ecosystem of the same name which rewards players based on skill-based gameplay.
The developers behind Tamadoge are also working to bring 3D versions of Tamadoge Pets, the NFTs that reside in the ecosystem, to prepare for the partnership with the existing metaverse.
There are also plans to launch a metaverse known as Tamaverse, where players can socialize and battle in a 3D environment with others.
It’s easy to attribute these developments to mere ambition, but our research suggests that the developers are already hard at work creating the games. Moreover, the project has been approved by Solid Proof and CoinSniper, which is another way of saying that the project is more than just empty promises.
Read the full white paper for this project at buy.tamadoge.io.
Take a close look at the development of crypto
Cardano has seen many bulls recently, but there have also been many retracements. It is therefore important to carefully monitor the markets before making a decision.
However, if you want to get started early on a project with the most potential, we suggest Tamadoge. The project has solid fundamentals and is slowly approaching its pre-sale target. The project will probably sell 50% of its total token supply before the end of the year and will be listed on a centralized exchange, which will increase its price by 10 times.
Tamadoge – Play to Win Meme Coins
- Earn TAMA in battles with Doge pets
- Supply Capped 2 Billion, Token Burn
- NFT-based metaverse game
- Presale Live Now – tamadoge.io
Disclaimer: Cardano Feed is a decentralized news aggregator that allows journalists, influencers, editors, publishers, websites and community members to share news about the Cardano ecosystem. User should always do their own research and none of these articles is financial advice. The content is for informational purposes only and does not necessarily reflect our opinion.