What crypto holders or crypto enthusiasts can expect from Cardano [ADA] The next few days? But the bigger question is, can the significant updates lead to the much-needed price growth of the original Cardano token?
Here is the AMBCrypto Cardano (ADA) price forecast for 2022-23
Answer the questions
Cardano remains one of the largest and most advanced L1s in the crypto ecosystem. While Cardano has been slow to add smart contract functionality, other L1s have had a role in scalability and security. One of the reasons why many projects rely on Cardano on Ethereum is its smart contracts.
But a special project was SundaeSwap. The protocol for automatic liquidity provision and decentralized exchange on Cardano that enabled SUNDAE and ADA exchanges on the SunDaeSwap exchange.
The popular decentralized exchange (DEX) company SundaeSwap has successfully launched Hydra, a second-tier flagship solution to further improve Cardano’s scalability. Even if the team addedAnd the
Our team is excited today to showcase something we’ve been working hard on for months:
Sundae Sui on Hydra! While out, this is an important milestone not only in the expansion journey, but in Cardano’s journey as well.
We’ll give the details later, but in the meantime check out our video ⬇️ pic.twitter.com/eRyUPT88QL
– SundaeSwap Labs 🍨 (SundaeSwap) 14 October 2022
Then, in a tweet, Cardano founder Charles Hoskinson claimed that “Hydra is coming to Cardano one DApp at a time” in response to SundaeSwap’s Hydra offering.
Hail Hydra! Very happy to see this show. Hydra is coming to Cardano One DApp sometime https://t.co/k9i1wG3OKO
– Charles Hoskinson (@IOHK_Charles) October 15 2022
Overall, Hydra could be a key layer 2 solution to improve Cardano’s scalability by putting a new protocol on top of the existing Layer 1 blockchain. This may also help the price of ADA in the near future.
Needless to say, the demo caused quite a stir within the Cardano community after the Hydra update. Hydra chief developer Sebastian Nagel praised and praised The SundaeSwap team effort, and announced their interest in improving the protocol with their help.
Meanwhile, SundaeSwap Labs CTO of this demo said,
What I’ve personally confirmed is: IMO Hydra is not a solo solution; It’s a design space that the Hydra team has built a “purer” model for; There are a lot of other spots in the space that make different swaps and are suitable for other dApps.
– Quantum | B Lanningham (Quantumplation) October 15 2022
The developers released the HydraHeads protocol on the public testnet in March. Some users have expressed the belief that these features will make Cardano more often exclaim As an “Ethereum Killer” soon king of DeFi.
Did it help or rather boost morale? Both development activity and trading volume saw a much-needed spike according to analytics platform Santiment.
The alert is ringing here
Yes, the Cardano development team released Hydra heads on the public Cardano Testnet. But did you create any new news for the ADA? Well, not really. In fact, the prominent bears portend death for Cardano as the price fell to a 21-month low. The original coin has currently seen a 13% drop in a week, hence a further drop in price.
At CoinMarketCap, the ADA was at $0.36.