It takes a strong vision to build in times of market crisis. However, those who hold on to the vision always end up reaping the biggest rewards. Case in point is billionaire Sheldon Adelson. In the heat of the 2008 financial meltdown, Sheldon was losing more money than any other billionaire. His company went from over $150 a share to about $1. However, in spite of all this, he held on to his vision and pumped his own money into the company.
This saw the company successfully complete building the marina bay sands in Singapore. By sticking to his vision, he is back richer than before, and the Marina Bay Sands is a landmark in Singapore. This scenario is not so much different in crypto. Crypto has been bearish all through the year, and for the last one week, things have got worse. Most altcoins are now very close to zero. However, those that are built on solid ground are still building, totally unfazed by the meltdown in the market. One crypto that is still building in spite of the market drop is Cardano (ADA).
Cardano (ADA) has lost a good chunk of its value in 2018. From a high of over $1, Cardano (ADA) is now trading at $0.04, a massive loss from its all-time highs. However, in spite of this drop, the Cardano community has grown stronger, and the team has been consistent in building on the Cardano (ADA) roadmap. At the moment, the IOHK team is working towards Shelley release, which will place Cardano team on a path to full decentralization.
The Emurgo team is also working quite aggressively in nurturing the development of Dapps on Cardano. On the marketing front, the Cardano foundation has reorganized to become more efficient in delivering on their roles. All these are adding to the intrinsic value of Cardano (ADA), just like the marina bay sands offered a huge boost to the net worth of Sheldon Anderson and his company, after losing a significant portion of his net worth in the 2008 financial crisis.
Once the bear run comes to an (it won’t last forever), Cardano (ADA) will be in a better position than it was during the last high. This time, it will be decentralized, and have Dapps running on it. Its rise will also be at a time when there is more awareness of blockchain.
On top of that, the weaknesses of most major blockchains are already known to the market. For instance, any business looking to build a major application would rather do so on Cardano (ADA) than on Ethereum (ETH). That’s because Cardano (ADA) can scale to handle any transaction volumes. This makes it a high-value blockchain that stands a realistic chance at value growth once the bull overruns the crypto bear that has been in control for close to a year. The vision and the development is right, and could give Cardano a valuation that is upwards of $5. It could even hit higher valuations if Charles’s vision of a trillion dollar Cardano becomes a reality.