-The hype around the upcoming Djed stablecoin launch, among others, has played a part in driving ADA price up over the past weeks in January.
-The Cardano community is anticipating upcoming launches that would enhance the network and Smart Contract capabilities.
-The new improvement proposal known as CIP-30 would allow the integration of web-based wallet bridges that would promote interaction between Cardano wallets and Web2 platforms like Amazon.
Cardano’s native coin, ADA, has seen impressive price gains since the start of 2021, owing to the improving economic conditions in the market and the ongoing developments on the Cardano Network. Over the past seven days, ADA has seen over a 15% price gain and an over 17% 14-day gain, and this impressive performance can be attributed to a few factors.
The first factor is the hype around the upcoming Djed stablecoin launch. COTI developers have announced that ADA holders would receive extra rewards when they mint Djed by staking their ADA coins, and this information has spurred users to buy more ADA, pushing the price up.
The second factor driving ADA’s price growth is the anticipation of upcoming launches that will enhance the Cardano network and its Smart Contract capabilities. For example, the new improvement proposal known as CIP-30 would allow for the integration of web-based wallet bridges, which would promote interaction between Cardano wallets and Web2 platforms like Amazon. This development would provide Cardano with more use cases and adoption, and ensure increased growth for the platform.
Additionally, the eTukTuk automotive project launch has also had a positive impact on ADA’s price. This project is being developed by the Cardano Foundation and would allow users to make payments and conduct transactions using ADA. This would further increase the utility of ADA, leading to more demand and higher prices.
Overall, it appears that the future is bright for Cardano and its native coin, ADA. With so many developments and improvements on the horizon, it is likely that ADA will continue to experience impressive price gains in the future.