- Cardano’s footprints reach global levels.
- ADA’s growth has also been acknowledged.
- Cardano remains bullish as network activities rise.
Cardano Foundation, the corporate arm and legal custodian of the Cardano blockchain, has been very active in promoting the proof-of-stake network globally. This has now earned them special recognition as one of the top-performing blockchain projects across the world.
Cardano recognized as one of the top-performing blockchain projects
In their Global Report 2022, CV Labs, a crypto venture capital and private equity firm based in Switzerland, praised the strides made by several blockchain organizations.
Out of over 50 major crypto companies in Switzerland, which has been fondly dubbed ‘Crypto nation,’ the Cardano Foundation recorded one of the biggest increases in valuation globally. In 2021, the crypto outfit saw its valuation reach $43.8 billion, behind only the Ethereum Foundation and the Solana Foundation.
The report highlighted the success of the Cardano blockchain itself and the upsurge in the price of ADA as co-contributors to the Cardano Foundation’s impressive performance.
“Cardano has seen dramatic price increases…, and it released intelligent contracts on its chain in the third quarter. The project continues to be research-heavy, with many innovative ideas and a commitment to peer reviews,” the report noted.
Similarly, the success of the Cardano blockchain can also be tied to the activities of the Cardano Foundation. As custodians of the Cardano network, the Cardano Foundation has made several significant moves to shape regulations for crypto, grow and educate the Cardano community, as well as form new partnerships with other enterprises.
This year, the organization has continued to foster the growth of the Cardano ecosystem. It has announced partnerships with the University of Zurich and also EMURGO. This is a continuation of the trend it started last year when it announced multiple partnerships, especially during the Cardano Summit event.
Meanwhile, other blockchain companies based in the country also accomplished impressively in 2021. The valuation of all Switzerland-based crypto companies reached a new all-time high of $611.8 billion in 2021, more than 6x up from the 2020s $108.4 billion.
$ADA Ecosystem Advancement
The Cardano ecosystem is awash with multiple indicators that point to healthy growth. From DeFi platforms to cross-bridge platforms and NFT projects, activity on the Cardano blockchain has picked up steam in 2022.
This has led Charles Hoskinson, the founder of Cardano and CEO of IOG, to even express renewed optimism for the number of projects that the blockchain will host after its Vasil hardfork in June.
The price of ADA, Cardano’s native token, has also been responding to the growing activity. In the prior month, ADA is up 31.5%. However, the crypto asset is currently trading around $1.07, down 10.56% on the day.