In terms of innovations, Cardano is the leading blockchain – but is ADA ready for 2022?

Cardano

Ethereum competitor Cardano was on everyone’s lips in 2021 as the project topped the charts in terms of development activities. 

According to the latest report from on-chain data provider Santiment, the Cardano blockchain was at the forefront in terms of development operations last year. It doesn’t necessarily have a direct impact on the ADA course, but it does show the Cardano team’s commitment to further innovation of the platform. In 2021, the Cardano blockchain saw some major changes, the most important of which came in the form of the Alonzo upgrade.

Since then, smart contracts can be implemented in the Cardano network and this option was very welcomed and quickly used. In 2022, the Cardano blockchain will likely get further upgrades.

In addition, Cardano is also leading the number of active contributors in 2021. According to the Github report, an average of 53 contributors contributed to the further development of the platform.

Cardano
Courtesy: Github

The diagram shows Cardano’s big lead over direct competitor Kusama. Interestingly, Kusama and Polkadot have managed to position themselves in second and third place in front of the world’s second largest cryptocurrency, Ethereum.

These statistics make it quite clear where the entire crypto ecosystem is headed. Projects like Cardano with an active developer community will dominate.

Cardano founder: 2022 will be the best year

During his most recent live stream on January 1, 2022 , Cardano founder Charles Hoskinson said that 2022 would be the best year for the entire crypto industry and especially for Cardano. While Hoskinson didn’t share a specific roadmap for Cardano, he did comment on the market in general.

He said the broader crypto market has seen rapid growth and that “we as an industry will digest the consequences of having grown so big so quickly”. He also talked about other projects. He expects the Ripple case to be resolved in 2022. Based on the current situation, according to Hoskinson, Ripple seems to have good cards at the moment.

For 2022, Hoskinson expects a strong regulatory commitment in the crypto sector, including significant regulations for DeFi and non-fungible tokens (NFTs).

Is ADA “Ready for Takeoff”?

On the 12-hour technical chart, ADA price forms a symmetrical triangle pattern. That means that ADA price could consolidate until a key breakthrough indicates its next move. If ADA breaks the $ 1.50 level on the upper trendline, it may see another 30% rally.

ADA benefited greatly from the 2021 altcoin market bull market and was even briefly the third largest cryptocurrency and a direct challenge to Ethereum. The price hit an all-time high of $ 2.96, but lost more than 50% of that. At press time, ADA is trading at $ 1.35 and ranks sixth in the world cryptocurrencies with a market capitalization of $ 45.2 billion.

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