As the crypto cycles move on, it becomes clearer which protocols have lasting value and endurance, and which are less likely to maintain a long-term presence.
During cycle lows, there is an opportunity to assess the landscape, and anyone looking to the medium and long term may have their minds on accumulation, in anticipation of future movements to the upside.
Something that was notable in 2021, when crypto markets were extremely bullish, was that as focus shifted away from Bitcoin and Ethereum, significant attention was given to Cardano.
ADA, Cardano’s token, soared from around 0.03 USD at the start of 2020, to around 0.18 USD at the beginning of 2021, to a high of over 3 USD in September 2021.
In line with the rest of crypto, ADA has since declined to around 0.27 USD, but there are firm reasons to believe that it can be a strong future performer and has long-term utility.
A Patient Community
Crypto Twitter is a useful arena in which to gauge sentiment and support, and it’s evident there that Cardano has an active and overwhelmingly loyal community. On top of that, discussions place a strong focus on tech and decentralization and are not only based on price speculation.
Something else of note is that Cardano receives relentless criticism, and even outright scorn, from other sections of the crypto space. However, this should not be taken as a negative.
Products and networks that are insignificant don’t receive attention, either positive or negative, so for Cardano to be on the receiving end of doubt and derision indicates that, like it or not, it maintains a strong presence and cannot be ignored.
Additionally, the community around Cardano soaks up hostility with seemingly endless patience, signaling no lack of confidence in the Cardano project and contentment to stake ADA (a very simple process) while keeping tabs on tech development.
Staying Power
Cardano has been consistently in or around the top ten cryptocurrencies (depending on whether or not you include stablecoins in your rankings) since it launched in 2017.
Couple this with the above-mentioned community factor, and you have what looks like strong foundations, and a sense that Cardano simply isn’t going away, no matter how the cycles unfold, or which new competitors are pushed, sometimes aggressively, into the market.
When it comes to crypto, relative longevity within a very young ecosystem is of great value, since, at this stage, survival itself is a tough assignment. The…
