- Crypto Capital Venture founder Dan Gambardello believes ADA is set to explode.
- The crypto pundit is bullish on ADA because of the fundamentals of Cardano.
- The Cardano blockchain continues to record increased activity.
Cardano (ADA) has been faltering for a while. Year-to-date, ADA is down 23.3%. On the day, the crypto asset is changing hands at $1.01, down -1.31%. The current price demonstrates a 67.4% drop from its all-time high price of $3 reached in September 2021.
Regardless, Cardano (ADA) proponents remain confident that the market’s price dip is only momentary. One such pundit is Dan Gambardello, the founder of Crypto Capital Venture (CCV) – a leading recruiting firm for fast growth crypto startups. Gambardello opined that Cardano is misunderstood by a lot of people who do not see the bigger picture.
Gambardello, who operates a Cardano pool, stated that the proof-of-stake blockchain is engineered to provide decentralized finance services on a global scale. This is why he considers ADA to be set to bounce.
“Cardano is built to provide decentralized financial infrastructure on a global scale…ADA is the biggest sleeping giant in crypto. It’s going to explode,” he said.
Cardano already brimming with activity
Gambardello has previously pointed out some of the reasons he is bullish on ADA. In a call for crypto exchange Gemini to list ADA, the crypto analyst noted that ADA has been consistently ranked among the top 10 cryptocurrencies by market valuation. He added that the blockchain also has one of the most developer activities in the crypto space.
Meanwhile, the network has been full of activity. In February alone, over 10 projects being built on Cardano have made significant announcements according to a list compiled by IOHK, the development arm of Cardano. A few key ones are MADAX which launched its metaverse, WingRiders which signed on Cfund as its anchor investor, and Yoroi Wallet which launched its dApp connector feature.
Cardano’s plans for 2022
While the growing activity on the blockchain has led to growing pains of network congestion, IOHK has revealed plans to scale the network. The firm recently released a demo video of Hydra, the Cardano layer 2 scalability solution that will theoretically increase transaction speeds on the network.
Hydra is only one of the solutions IOHK has lined up for 2022. There are also network parameter adjustments that are taking place on the network to meet with demand from dApps. The last parameter adjustment raised the block size of the network from 72kb to 80kb, an 11% increase.