Post Big Plan for Cardano: ADA Still Has 25X Capacity, Here’s Why? Appeared first on Coinpedia – Fintech & Cryptocurrency News Media| crypto guide
After weeks of bearish pressure driving most cryptocurrencies to the downside, bitcoin has reclaimed the crucial $30,000 level today, May 13.
Cryptocurrencies across the board were rebounding from brutal selloffs in this week’s crypto bloodbath.
cardano[एडीए]Major corrections are a regular part of the cryptocurrency industry and the massive frenzy surrounding the latest market crash, Charles Hoskinson, its founder, said in a recent video.
Hoskinson began in his video by doing somewhat of a reality check on market conditions and their impact on the global monetary system, saying that “the world economy is not healthy”.
Continuing for the past 20 years, printing money has caused hyperinflation and has caused the US to become so indebted that it costs $1 trillion a year.
According to Hoskinson, seasoned investors are not bothered by the most recent sharp drop in the market as they have seen such corrections in the past, while this chaos is created by new investors who are going through a period of panic right now. And crypto isn’t over yet!
hawkinson Explained why this massive improvement methodology has been blown out of proportion:
“I’ve been in this spot for almost a decade now, and I remember bitcoin being first $1, and then going up to $30, then to $4, then to $250, then to $80, then to $1,200. up, then down again to $250, then to $20,000, then to $4,000, then to $64,000…
“No matter where I go and what I do, it always amazes me that this constant rhyme of attitude. So old guard, nothing stops us now. We’ve seen everything twice, Just to make sure we haven’t missed anything.”
He mentioned that the company is growing and has its own development fund in response to a Guillemot tweet in which he announced that the $723 million treasury of ADA is decentralized.
Charles Hoskinson has big plans for Cardano in the next 12 months!
According to Guillemot, Cardano’s massive treasury is a sign of natively building projects like it on the blockchain network. One such project is the algorithmic stablecoin, Djed, which was launched in May.
In addition, users are currently testing its capabilities which are being developed in collaboration with COTI and ADA. The company is in the process announcement of There are big plans for 2022 as they have two big tooling announcements in the next 1~2 weeks.
Cardano has shown some significant improvements over the past few months as more projects are built on it. Guillemot’s tweet is a clear indication that treasury may be behind the funding of these projects.
However, a recent tweet by Cardano’s parent company, IOHKCleared the air that at present around 900 projects are being built on it. Isn’t it too big? Especially for a project that has been criticized by many for being slow.
Overall, Hoskinson believes that the number of large transactions on the Cardano blockchain could increase by more than 25x by 2022.
Bloodshed in Satoshi Street: Crypto Winter
Speaking on the current market situation, Hoskinson Clarified that the market is not in a position to revive anytime soon, so it may be this winter for new investors hit like a cold ice bath,
In a recent tweet, he “welcomed” new investors into the latest crypto winter, further adding that it could take weeks to months to find the bottom before the coins continue to climb up after bloodshed in the streets.
This is nothing but a panic stage which is not new and is not meant to be The end of crypto.
“If this is your first crypto, you are welcome. Been through many since 2011 and they always hit like a cold ice bath. We are horrified with blood on the streets. It should clear up in weeks to months. Goes because the bottom is found. Then a long climb up a ladder.”
Bottom-line
According to Hoskinson, this massive damage is basically the manipulation of the cryptocurrency that is causing a stir in the market and dragging the price down.
So the bottom line is that the firm is trying to build a stable ecosystem which may take time but is “the whole point of cryptocurrency,” he added, “To restore some confidence, credibility and stability in the world monetary system.”