Cardano is in a correction, but fundamentals are getting better
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Cardano is in a correction as the broader crypto market eases up after the end of February rally.
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Cardano's core fundamentals are getting better as three upgrades are set to make Cardano better for Dapps.
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One of the upgrades recently implemented triggered a 12% price rally.
Cardano (ADA) is one of the biggest platform blockchains by market capitalization. While it has been a work-in-progress for the last couple of years, Cardano’s core metrics are stronger than many of its competitors.
One of the factors that make Cardano stand out is its security. Cardano’s Ouroboros Proof-of-Stake algorithm is the first provably secure Proof-of-Stake algorithm. This is an essential metric because with most financial applications now moving to the blockchain, it could be catastrophic if they run on unsafe blockchains. It’s part of why Ethereum continues to dominate the DeFi market despite its obvious cost and scalability issues.
While Cardano is yet to gain mass adoption, things are looking pretty positive. Several big projects, including a Metaverse project, are coming to Cardano. Besides, the Cardano team has announced several significant updates that could help propel Cardano forward in 2022.
Cardano technical updates could trigger a price rally
The IOHK had scheduled three major updates for 2022, which have already been effected. One of the updates it has implemented is the introduction of light wallets and a Dapp store. The goal is to make Cardano run more efficiently now that it has already introduced smart contracts.
The announcement saw ADA shoot up by over 12%. It’s an indicator that as the other updates are introduced, investors expect the Cardano blockchain could run even
