Since the beginning of the year, Cardano has been experiencing ups and downs. Like other blockchains, it suffered the consequences of the collapse of major crypto corporations and the banking crisis. In January, it suffered a breakdown affecting 50% of the nodes in its network. He nevertheless emerged stronger from these situations. Even better, Cardano is gradually regaining investor confidence.
Stats show strong confidence in Cardano’s growth
The Cardano blockchain shows a significant increase in recent months. 66% of ADA offers are held by retail investors, against only 40% by retail investors. Such an increase shows increased confidence among retail investors in the potential of the network. As the company has well known in his tweet from April 2, “it shows a strong belief in the asset and its growth potential”.
The reasons for this increased confidence
The number one reason that attracts investors to Cardano is its growing ecosystem of apps. Moreover, the blockchain comes with enhanced functionality and scalability. All these advantages allow developers to easily create decentralized applications (DApps).
For some time now, Cardano has also become a robust smart contract platform. It allows the development of dApps for various DeFi use cases: loans, borrowings, exchanges…
That’s not all ! Cardano is also experiencing increased demand for crypto staking. While staking was all about ADA, Ethereum’s The Merge update led to a huge demand for crypto staking services. Moreover, a large number of Ethereum holders today seem to be attracted to Cardano.
Cardano does not only attract retail investors. Its value is also showing an uptrend. Indeed, the price of the ADA crypto is about to rise. This token is trading at $0.39 currently.
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