Charles Hoskinson shares the recent spike in the price of the Cardano blockchain network's native tokens, and says it's just getting started.
Cardano is the fifth ranked cryptocurrency asset in this cryptocurrency industry. Its development team is actively working on the development of the Cardano blockchain network so that the Cardano blockchain can achieve the level of transaction speed required by the industry.
About 7 days ago, Caldano's native token ADA touched $1.18. But two main factors pushed the ADA token above $1.60 on Jan. 17.
At the time of writing, the ADA token is trading at $1.56, up 7% in the last 24 hours.
The reason behind the spike in ADA prices
The first reason for the big rise in ADA is the launch of the mainnet of SundaeSwap (SUDAE), the Dex on the Cardano blockchain network, thanks to the Alonzo hard fork enabling smart contract functionality in the Cardano blockchain network. The team behind Sundae announced that the team will launch the mainnet on January 20, which is very close.
The second thing is a statement from Charles Hoskinson, founder of the Cardano blockchain network, in which he shares the potential of Hydra to beat existing competition with Solana like the blockchain network. Charles stated that by using Hydra, Cardano will be able to reach 1 million TPS.
Charles talks about the ADA spike
Popular Bitcoin supporter and cryptocurrency investor Lark Davis shared images of Caldano's trading volume, which shows Caldano's second largest volume.
This is a hint from Lark that after Ether, Caldano is showing a better use case in this cryptocurrency industry.
In response, Charles quoted and tweeted that Lark had just started, and he added in the same line that it's only January. So Charles hinted that there's a lot going on this year.
Just started Lark, it’s only January https://t.co/ToJ923QOAk— Charles Hoskinson (@IOHK_Charles), January 17, 2022
For months, people have been making negative statements about the Cardano team, as ADA has been facing a huge collapse. But now this situation has given the Cardano (ADA) blockchain network community more confidence.
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