Cardano (ADA) has been on the fast lane in growth for the better part of the year but appears to have engaged the neutral gear towards the end of Q3. Though ranked among the ten most valuable digital coins by market cap, ADA price traction has significantly slowed down and could be dethroned from the best 10 by other upcoming coins.
The marker has been sluggish across the board that has seen to total capitalization drop to lows of $1219.93billionwith Bitcoin still taking the largest share at 52.0%. Cardano has however, not slowed down on its development path and a lot has happened recently that many holders expected to translate into price and value spike.
Cardano (ADA) Focusing on Mass Adoption
The Cardano team seems to move their concentration from platform development to increasing its presence in the market. The coin is billed as one of the most popular coin in the crypto space and any increase in adoption is a sure fire catalyst to spur its price. The move has seen the platform open up their space for third party dApp creators.
With many investors still waiting to the MainNet to come alive, the IOHK team has spiced up the anticipation by releasing the Rust SDK, a Mozilla product, which will give developers a wide range of tools to make it easy to develop on the ecosystem. This will seem more activity on the platform that should increase the demand for ADA and the subsequent price growth in the short term.
Putting Digital Assets in Plastic Cards
Still ahead of the MainNet, the Cardano team announced that they are coming up with a Cardano plastic card that will see user reliance on wallet shift to a Cryptocard that ADA user just need to load with the asset and use it like Visa or MasterCard. This is envisioned to increase the user base and stamp the coins utility value in the crypto-sphere.
Using a Cryptocards will see additional credibility in virtual currency since it will use almost similar feature with those of fiat currency since the transacting parties not interact with the physical coins. This could be a major hit for ADA given the current awareness the team has been creating through AMA and meetup sessions.
ADA Access on the Go
Late August, Cardano managed to launch a new wallet that is targeting the smartphone user. The Yoroi wallet is designed with the on-the-go mobile user and is set to be a major hit especially in Asia where internet and smartphone penetration is one of the best in the world.
With light weight wallet, ADA holders will enjoy the minimal bandwidth utility since it just functions like your usual chrome extension and it is easy and fast to download and install. With these launches are two-pronged and will cut across the individual audience as well as the Fin-tech sector globally. Based on peer-to-peer review algorithm, dApp development on Cardano gives the developer the freedom to think outside the box and showcase the development prowess as opposed to Ethereum where the system has its internal restrictions.
Cardano (ADA) Price Traction in the Horizon
The recent developments might not have had a big impact on the ADA price but a momentum appears to be gathering that will culminate into a breaks around the MainNnet launch date. The last 24-hour trading period has seen the coin trade in the green at $0.082767 with 2.17% and 1.45% gains against the green buck and Bitcoin
The present price inconsistency is not an ADA isolated cases but cuts across the entire market. If the developments translate into adoption, the sky will be the limit for ADA as Q4 comes to a close. With the ADA price still under the $1mark, it is the best time also to stock up for the non-speculative long term investor.