{"id":25257,"date":"2022-08-07T21:06:34","date_gmt":"2022-08-07T21:06:34","guid":{"rendered":"http:\/\/egrowonline.com\/?p=25257"},"modified":"2022-08-07T21:06:34","modified_gmt":"2022-08-07T21:06:34","slug":"for-cardano-its-100-projects-and-counting-but-is-that-really-enough","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=25257","title":{"rendered":"For Cardano, it’s 100 projects and counting, but is that really enough"},"content":{"rendered":"


\n<\/p>\n

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The biggest use case of a third-generation cryptocurrency is Decentralized Finance, on which Cardano<\/a> has built its reputation and hype for years.<\/p>\n

Alas, the result hasn\u2019t been particularly impressive. Especially since in a little under a year, the network has only noted the launch<\/a> of 93 projects. Now, although another 1048 projects are being built, investors are yet to know which one is on its way to being launched.<\/p>\n

Cardano is taking baby steps<\/h4>\n

With the Vasil hard fork, DeFi is expected to see an overhaul on the network. However, the arrival of the same has been a painstaking journey for many as after weeks of delay, Vasil has been delayed once again.<\/p>\n

The Cardano development team has been reassuring everyone that it\u2019s close, but no final date has been given. In their most recent update, the dev team stated,<\/p>\n

\n

\u201cA new dedicated pre-production environment has been spun up for the final stages of Vasil functionality testing. This environment offers improved chain density and a better developer experience.\u201d<\/p>\n<\/blockquote>\n

Cardano\u2019s experience with DeFi hasn\u2019t been the best, and with only $94 million locked on-chain post-May and June\u2019s crashes, Vasil needs to be a significant event. Just this week, almost $50 million were wiped off the network as the Decentralised exchange (DEX) Wingriders\u2019 TVL fell by 68%.<\/p>\n

\"\"\"\"<\/a><\/p>\n

Cardano Total value locked <\/em> | Source: DeFi Llama \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

On the investor front, the situation is no better either.<\/p>\n

Cardano holders suffering from a lack of growth hit their 12-month low this week as more and more investors continue to refrain from participating on-chain.<\/p>\n

Consequently, the total active users on a daily basis declined from 234k in January to a meagre 64k at press time.<\/p>\n

\"\"\"\"<\/a><\/p>\n

Cardano active users <\/em> | Source: Coinmetrics \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

Now, one can expect this to continue for as long as the market value of the asset does not improve. At the moment, however, it is better than what it was a month ago, with the figures for ADA still under 1.0. This, unfortunately, is not a good enough value to lure investors onto the chain.<\/p>\n

\"\"\"\"<\/a><\/p>\n

Cardano market value <\/em> | Source: Coinmetrics \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

Thus, unless there is some actual improvement either on the price front or in terms of network development, Cardano will continue to be the way it is now.<\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The biggest use case of a third-generation cryptocurrency is Decentralized Finance, on which Cardano has built its reputation and hype for years. Alas, the result hasn\u2019t been particularly impressive. Especially since in a little under a year, the network has only noted the launch of 93 projects. Now, although another 1048 projects are being built, […]<\/p>\n","protected":false},"author":1,"featured_media":25258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[266,10298,1461],"class_list":["post-25257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-cardano","tag-counting","tag-projects"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/08\/first-aid-g507d0b7df_1280-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25257"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25257\/revisions"}],"predecessor-version":[{"id":25259,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25257\/revisions\/25259"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/25258"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25257"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}