Despite fundamental growth and high development activity, Cardano fails to satisfy investors’ demands
Cardano showed the highest development activity in the industry, leaving behind projects such as Kusama and Polkadot, with over 350 commitments made last month. Other notable projects at the top are Ethereum and Solana, with over 270 commits.
Cardano is getting bigger every day
The network has always been one of the most actively developed projects in the whole industry, especially after dropping the smart contract update. Since the beginning of 2022, Cardano is rolling out a great amount of new projects, updates and solutions.
One of the most recent updates was the upgrade of stake pool operators on the Cardano 1.35 node. The new update makes the most recent node build a candidate for the final release of the mainnet Vasil hardfork. With the launch of the node network, all updates and patches will have a smooth and stable launch from Vasil.
In addition to constant updates of the network—which is getting ready to receive a massive Vasil upgrade—Cardano still supports smaller solutions like eUTxO blockchain explorer, which has earned praise from the project founder, Charles Hoskinson, and decentralized projects like Wingriders.
Market performance remains anemic
Despite active fundamental development, Cardano is struggling to show positive moves in the cryptocurrency market as the underlying blockchain cryptocurrency remains in a strong downtrend over the last 300 days of negotiation.
Since September, Cardano has lost more than 84% of its valueб which makes it one of the least profitable assets in the whole industry. Unfortunately, no signals for a reversal have appeared on the market despite constant updates and rising network usage. At press time, ADA is changing hands at $0.49.
