Charles Hoskinson expects a bright future for the network
Creator of the Cardano ecosystem and founder of IOHK, Charles Hoskinson, shared his positive predictions for the Cardano ecosystem as it gained about 100,000 new addresses this month, according to his manager Twitter Publish.
Why is Cardano growing so fast?
One of the most influential developers in the industry hopes and waits for the growth of the ecosystem, especially after the release of smart contracts technology, which has already attracted more than $300 million in users’ funds.
After the release of the technology, only a few projects, including SundaeSwap and Minswap, managed to attract 99% TVL. Soon after, developers released over 15 new DeFi projects in the space, creating more diversity in the ecosystem.
Why does Charles Hoskinson expect growth in the future?
While Hoskinson’s prediction could be considered bold, he has a right to think so as the rapidly emerging technology on Cardano is at the early stages of adoption and yet to see the blossoming of various decentralized solutions, including lending and borrowing platforms, stablecoins, NFTs and NFT marketplaces.
In an analogy to Ethereum, Cardano could actually face a big surge in capitalization as demand for DeFi, NFT, and decentralization recovers and returns to 2021 levels.
Unfortunately, there is no guarantee that the underlying coin of the Cardano network, ADA, will follow the ecosystem’s growth pace. While TVL on Cardano faced 1,000% growth, the price of ADA, which remained in a prolonged downtrend, increased by only 35% and has already lost 100% of the previously gained value.
At press time, ADA is trading at $0.9, with a loss of 23% over the past 30 days.
