Cardano (ADA) has seen many rallies since the beginning of this year. The altcoin owes its performance to the evolving economic situation in the market and the ongoing developments in the Cardano Network. ‘ADA Whale’ says the Liqwid main-net is a very important event for Cardano.
ADA Whale: Liqwid is crucial for altcoin
Popular ‘ADA Whale’ says the launch of interest rate protocol Liqwid next week is a pivotal event for Cardano. Yesterday, the Liqwid team announced that they are planning to launch the main-net next week:
Earlier today, ‘ADA Whale’ told over 125,000 Twitter followers:
The launch of Liqwidfinance is very important for Cardano. Looking at our trajectory, if we consider 2021-22 as years of dilution (as we have our own mini-ICO boom and money is leaving the system), we are now entering an era of intra-Cardano leverage where IMO will lead to a value explosion. Don’t get triggered by the word leverage lol. I’m not suggesting that we all go completely degenerate, I’m just saying that pretty much the opposite of 21-22 is about to happen. Because 1) the value stays in the system and 2) it finds a way to replicate itself.
Liqwid is an open source, algorithmic and non-custodial interest rate protocol built for lenders, borrowers and developers. Users can securely earn interest on deposits and easily borrow assets while also earning returns on ADA from four yield streams.
What contributes to ADA’s price rally?
cryptocoin.comAs you follow, the altcoin has seen a price increase of over 15% in the last seven days and over 17% in 14 days. But what are the possible reasons for ADA’s impressive performance?
The hype about the upcoming Djed stablecoin launch, among others, played a role in driving the ADA price up in the last weeks of January. According to the developers of COTI, the network behind djed stablecoins, ADA holders will receive extra rewards when they mint Djed by staking their ADA. According to experts, it could encourage users to buy more ADA and drive the price of the coin even higher.
Also, the Cardano community is looking forward to upcoming launches that will enhance the network and Smart Contract capabilities. In addition, Cardano received a new improvement proposal known as the CIP-30. This improvement proposal will allow the integration of web-based wallet bridges that will encourage interaction between Cardano wallets and Web2 platforms such as Amazon. It will allow for more use cases and adoption of ADA and drive further growth for Cardano, positioning it to meet more market needs. According to experts, this may be among the factors that accelerate the price increase of ADA.
Another recent development on the Cardano network that could fuel the ADA price rally is the eTukTuk automotive project launch. According to the announcement, Cardano Blockchain will host the project. The project enables users to earn rewards by using the eTukTuk electric vehicle charging infrastructure. Users can access the service using TUK, eTukTuk native token. But since the project is affiliated with Cardano, they need to have ADA. This could also be pushing ADA prices upwards.
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