- Despite the bearish market, Cardano reached 74% of ADA staked.
- Cardano fans rejoice and look forward to furthering developments in June.
- If all goes well, ADA may see a price surge upward of $20.
Despite the bearish market that started around April 5, Cardano users have reached upwards of 74% ADA staked. This means that thousands of users have staked almost $23 billion worth of ADA among 3,000 active pools over the past two years. Cardano fans rejoice at the news, proclaiming that the project has only begun.
#Cardano reached 74% of total $ADA staked for the first time.That’s over 23 billion dollars delegated to thousands of stake pools by thousands of delegates around the world.
Staking was released a little less than two years ago.#Cardano is just getting started.
— big pey (@bigpeyYT) April 17, 2022
The sentiment of Cardano “just getting started” isn’t unfounded. The fact is that there are several huge features that are still to be rolled out – namely the Vasil hardfork. Cardano Founder Charles Hoskinson himself tweeted this fact on March 12 of this year.
What most also don’t understand is that many Cardano DApps are waiting for the Vasil hardfork in June to launch to benefit from pipelining. So it seems we ain’t seen nothing yet on TVL https://t.co/mMHxwRrF96— Charles Hoskinson (@IOHK_Charles) March 12, 2022
Charles claims that many Cardano Dapps are “waiting for the Vasil hardfork in June to launch to benefit from pipelining. So it seems we ain’t seen nothing yet on TVL.” He insinuates that by June, many users will and dApps will contribute to increasing ADAs TVL. It can be inferred from this quote that Charles is confident in Cardano’s future this 2022.
The staked figures for Cardano are evidence of users’ confidence in the project. Despite a bearish market coming in again, users haven’t dumped the token. Instead, people seem to be looking forward to more from Cardano – claiming that the project has a bright future ahead.
Well, it’s not the case..but it’s not why either. There are multiple factors including the no lock up & 5% safe apr but imo it’s more due to increasing % of retail holders that understand Cardano & it’s vision & are here for the long haul! Cardano is building a super solid base!— HODL & ST₳KE (@hodl_stake) April 18, 2022
[in my opinion] it’s more due to increasing % of retail holders that understand Cardano [and] its vision [and] are here for the long haul! Cardano is building a super solid base!
With all of these upcoming developments for Cardano, it’s highly possible that may see a price surge upward of $20 by June 2022.
At the time of writing, Cardano (ADA) trades at a price of over $0.8 with a decline rate of 14.1% over the past 7 days. It has a market capitalization of over $28 billion with a 24-hour trading volume of almost $815 million.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.