The crypto winter has been brutal, especially on altcoins. As such, cryptos that have managed to build consistently in this period are for all intents and purposes strong. One cryptos that has proven to be resilient all through the crypto winter is Cardano (ADA). Yesterday, Charles Hoskinson, the head of the IOHK did an interview in which, he touched on this issue. In this interview, Charles highlights some of the challenges they have faced during the crypto winter, and took pride in the fact that, they have managed to overcome them.
According to Charles, one of the challenges they have faced in the course of the bear market was the change in leadership at the Cardano foundation. This came deep in the depths of the crypto bear, and created lots of doubts in the Cardano project. Then there is the fact that prices have been going down consistently for so long. This has led to the spread of FUD about Cardano, further hurting its price. For instance, as Charles Hoskinson has noted in the past, Cardano (ADA) has often been criticized for lacking a working product. This has swayed away some investors from Cardano during the bear market.
In spite of all these challenges, Cardano has been able to achieve a lot in the past year. From Ouroboros to a more functional wallet, Cardano has made lots of technical strides in the crypto bear that started in 2019. Other achievements include establishing strong relationships with countries where Cardano will be needed most. For instance, they have established relations in several African countries, as well as in Asian nations such as Mongolia. They have also managed to lay the groundwork for facilitating Dapps, through Emurgo.
The next big milestone that is on the way is the Shelley release, which will enable investors to stake Cardano (ADA). This is upcoming irrespective of whether the crypto bear run has come to an end or not. Shelley will allow investors to stake ADA. Not only will this decentralize Cardano (ADA), it will also drive up the value of Cardano (ADA) as investors move to stake ADA.
All these developments lead to one conclusion, Cardano is a resilient project. It has survived the bear run, and stayed the course. There are so many cryptos that have fallen to the wayside in this period, due to lack of funding and other issues. The fact that it has sustained through this period and made major advances validates it as a high potential crypto.
In essence, if indeed this crypto bear run has come to an, as the charts are indicating, then Cardano (ADA) could be up for major gains. If its last high is anything to go by, Cardano (ADA) can easily make investors extremely wealthy, even by just retesting its all-time highs. Based on what the team has achieved so far, there is a good chance that it could test even higher highs in the next Bull Run. Even $10 per coin is very realistic for this crypto.