Cardano (ADA) has been one of the most popular cryptocurrencies in the world. In early September 2021, ADA reached an all-time high of $2.91, and it seemed anything was possible. In just over a year, a lot has changed. Since then, the cost of ADA has dropped significantly. The token has fallen 77.43% over the past year, hitting a low of $0.30.
Therefore, although many investors are optimistic about the Cardano rollback, it is currently not possible. Can ADA prices reach their previous highs?
No, Cardano may continue to lose value in the near future, according to Coin Bureau Guy, who goes by the name Guy. He discussed the future of ADA as the bear market remains intact. However, he explained that the ability of the blockchain to achieve the five predicted evolutionary steps will ultimately determine the performance of smart contracts in the long run.
Cardano’s Next Major Step
Guy outlines some key next steps for ADA and says that step five is the official plan for Cardano. He said that he is now in the fourth stage, called Basho, which emphasizes on recording. A heating solution called Hydra will begin production in Basho next year, and it is one of the few remaining systems of the project.
The presenter said that Basho will improve “the underlying functionality of the Cardano network to facilitate the development and adoption of advanced business applications.” The newest part of the blockchain project, known as Voltaire, will introduce a “voting and asset system”, allowing network users to influence the future development of the blockchain.
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