Cardano’s Incredible Milestones Set ADA For An Explosive Year — Here’s Why

The new year seems to be opening up in good light for Cardano as the blockchain network continues to earn praises across the crypto space. The latest boost of publicity for Cardano and ADA comes from proponents who continue to share express sentiments about the network.

Evidently, ADA has recently seen a significant increase in transaction volumes, making the network the second most active blockchain network over the same period.

Market pundits pointed this out, to which Cardano’s founder Charles Hoskinson reacted, affirming the network’s growing influence within the crypto and blockchain industry.

“It’s Just January” – Charles Hoskinson

Hoskinson addressed the ADA community, noting that the Cardano network is only just getting started as more groundbreaking developments will continue to unfold further into the year.

This retort by the top Cardano exec sends out a clear memo that the network is planning gargantuan things for the year 2022 such as the debut of a DeFi loan service in Africa to foster crypto adoption for over 1.3 billion people on the continent.

For one, Cardano still continues to attract developers onto its platform, and the planned improvements to accommodate DeFi comfortably are likely to result in more protocols and devs joining the network.

Network Strength

Perhaps one of the main reasons for the current increase in transaction volumes on the Cardano network is its apparent very low transaction fees as compared to the likes of Ethereum. This is backed up by the network’s apparent strength. As we recently reported, the Cardano network has managed to run for over 1,500 days and process over 20 million transactions without any downtimes. 

The same can’t be said about a number of other blockchains that have experienced pitfalls multiple times over the same period. The even more interesting fact is that the Cardano network has undergone multiple upgrades over the said period.

ADA Is Gaining

Looking at the current market standings for ADA, it’s easy to see why Cardano fanatics and Charles Hoskinson believe this will be a great year for Cardano.

ADAUSD Chart by TradingView

For starters, ADA is up by over 20% over the past 7 days. At this moment, ADA sits at position 5 on the coin rankings, with a price tag of $1.4 and $48 billion in market valuation.

It posts a transaction volume totaling over $4 billion in the last 24 hours. If this trend continues, the Cardano community should expect to score big this year.