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Growing network, sloppy price – Where next for Cardano
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Once the third-ranked crypto by market cap, Cardano had given its HODLers and the larger market hopes of hitting $5 by the end of 2022. In fact, ADA’s >150% price rally from July-end to September, when the alt touched an ATH of $3.1, made the price target of $5 by December look rather achievable.
At the time of writing, however, the altcoin was down almost 60% from its ATH.
Ahead of the launch of Cardano’s first decentralized exchange, SundaeSwap, social volumes for the coin reached all-time high levels. In fact, on 6 December, a day after Cardano’s over 10% price fall amid larger market sell-offs, the network touched an “incredible milestone” as the number of wallets staking ADA crossed the 1 million mark. In fact, it recorded an almost
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