In this video from CryptoBusy, the presenter discusses whether Cardano will be a viable option in 2023, given its recent performance and market conditions. Despite Cardano’s price decreasing from $0.90 last year to around $0.40 currently, the presenter believes the upcoming Voltaire upgrade will help the cryptocurrency maintain its position in the top 10. The upgrade will introduce a voting and treasury system, allowing network participants to influence the future development of the network. The presenter also notes Cardano’s partnerships and ecosystem developments, predicting potential growth in the future.
Is Cardano still a viable option in 2023?
Hey Yvonne welcome back to another video from cryptobusy my name is Tom now in today’s video I’m going to go through cardano and whether it is still a viable option in 2023.
Cardano’s Performance and Market Factors
Cardano is a top 10 altcoin that has been touted as an ethereum killer but recently it hasn’t been performing as well as people have expected it to be. So people are thinking will cardana go and subside will it go out of the top 10. I want to cover that a lot more in today’s video going over the latest updates the fundamentals the technicals and everything else covering The cardano ecosystem. You can see right now in the markets yeah Bitcoins trading at around 29 300 and that is affecting the rest of the market. Most of the price action we’ve been seeing from cardano has been affected by or has been produced by what’s been happening with Bitcoin’s price over the past year. Coupled with that as well, we’re going into a bear market going into a crypto winter that has also been affecting the prices of not only Bitcoin but the rest of the old coins as well so it’s affected the stock market has affected the housing market and every other market.
Cardano’s Ability to Stay in Top 10
Many people are saying the price action of cardano hasn’t been what we expected. It’s actually been performing worse compared to the other top 10 coins as well. Whenever there are some of the top 10 coins pump, cardano doesn’t pump as much as the others. So people are saying, well, it’s been going out of that position, losing its fifth and sixth position and potentially could be out of the top ten. I just degree I do think cardano can have or does have the ability to stay within the top 10 and mainly because of what it’s doing with its Network upgrades. The Voltaire upgrade that is happening fairly soon is going to be one of their most important ones, which is going to be affecting and improving Cardona to become a self-sustaining and self-governing system within the ecosystem of people who participate. They’re going to be introducing a voting and Treasury System Network participants will be able to use their stake and voting rights to influence the future development of the network.
The Future of Cardano
Cardano has been continuing to develop on its projects during this crypto winter, and any old coin that is doing so is going to be seeing a return in dividends in the future. We could be seeing new all-time highs happening for these old coins for these projects that put you know continue to develop on their projects. Cardano is unveiling the latest ecosystem upgrades, going into impressive network statistics and potential stable coin stuff happening for the Cardinal ecosystem. They have the Cardano summer coming up in November of this year over in Dubai, and many big players in the game are behind cardano and the ecosystem. The future looks bright for cardano, and it really does in my opinion.