Anyone holding crypto bags at this point is not a very happy person. Unfortunately, selling at current prices, when most altcoins are down by over 90%, doesn’t make much financial sense either. The only hope at this point for anyone holding bags would be to wait. Though this is a risk too, considering that most projects are vaporware, and may die off before the bear market comes to end. In such an uncertain market, where does Cardano (ADA) stand?
Going by its fundamentals, Cardano is probably one of the altcoins that hold the most promise. One of the reasons why Cardano is promising is that it is assured of funding all through its development process.
This is probably the most important factor that investors need to keep an eye on. That’s because, if the current bear marker runs all the way into 2019, lots of projects currently under development will run out of funding, and they will probably die out. Therefore, for a project like Cardano that is fully funded until 2020, this is a source of safety. Investors are assured that no matter how low the market goes, Cardano (ADA) is still going to be around. This is far more reassuring than holding bags in a crypto whose sustainability in a multi-year bear market is not assured.
On top of having assured funding, Cardano is putting in work into development. So far, the IOHK team has made major progress in terms of the technical aspects of the project. They have successfully worked on Ouroboros, their highly secure POS algorithm. They have also worked on the Daedalus wallet, and are expected to release Shelley in early 2019. Just yesterday, Charles Hoskinson announced that Cardano 1.4 will be released on December 18th. Here is the detailed tweet from Charles with regards to this release.
After seven release candidates and a huge amount of QA work, I’m pleased to announce that our best effort release date for Cardano 1.4 is December 18th. Daedalus users will get an in-client update notification next week. Thanks everyone for your patience and support.
This goes to show that progress is making good progress in its development, and it’s reassuring for investors in spite of the bear market. The biggest progress will be the release of Shelly, which will also enable investors start staking Cardano (ADA). This will drive up demand as investors take positions in Cardano for the passive income that will come with staking Cardano. It could be a major value boost for Cardano (ADA) in the near-term, inspite of a bearish market.
Another reassuring factor for Cardano investors is the goal of this project. Cardano is aiming to become a financial operating system for the 3rd world. Once it is complete, Cardano could uplift millions of people out of poverty, by giving them a viable alternative to the existing financial system. As this goal gets actualized, Cardano (ADA) will stand out as one of the most rewarding projects for investors in the long-run.