Lately, some altcoins have pumped and seem to have entered into bull territory, even as Bitcoin (BTC) remains depressed. Litecoin is a good example of such a crypto. For investors looking for the next potential pump, Cardano (ADA) is a very promising candidate.
If everything goes as planned, ADA could pump hard this month. That’s because of the much awaited Shelley release. In mid-Feb, Charles Hoskinson announced through an AMA that the Shelly release was on track. Yesterday, communication between IOHK members showed that everything was fully on track, towards the release of 1.5, a crucial step towards Shelley.
The reason why the release of Cardano 1.5 is so important is that, it acts as a bridge to transition from the old code base to the new one. The Cardano 1.5 implements OBFT, which will make it easy to transition from the old federated mode, to a Cardano that is fully decentralized (Shelley). In essence, Cardano’s goal to become fully decentralized within this quarter is fully on track.
Once the announcement is made, Cardano (ADA) could have a significant run up in price. That’s because, it is one of the most anticipated events by the Cardano community. Not only is the community excited at the idea of decentralization, they are also excited by the idea of staking ADA and earning rewards for it. Most people love the idea of a passive income so there will likely be a mad dash to accumulate on ADA, so as to maximize on potential returns. The result is that, a huge surge in demand could see the value of this crypto rise significantly in the next few weeks. Even a 50% or more surge in prices could be within reach.
Such a pump would be possible if Binance, one of the world’s largest exchanges decide to support. Over 9% of Cardano’s circulating supply is held on Binance. As such, it makes sense for them, from a business perspective, to support Cardano’s move towards decentralization. Binance could therefore, mark the beginning of Cardano’s pump, as investors move to stock up, with the goal of earning staking rewards.
However, even beyond this possible upcoming pump, Cardano makes for a good hold in the long run. That’s because, it is one of the few cryptos that have struck a balance between decentralization, scalability and security. This means that it has the potential for huge adoption in the Dapps market. It’s a reliable platform for running Dapps aimed at sensitive industries such as the financial markets. In essence, once Shelley is released, Cardano (ADA) will enter a growth phase, not just from the staking-driven demand, but also from real world application of the Cardano blockchain.
In essence, the chances of Cardano retesting its all-time highs within the year are quite high. Cardano could be the platform that leads the way in creating a truly decentralized economy. As such, it could emerge one of the most important crypto investments for those who hold it with a long-term view.