- Crypto analyst Hashoshi said in an interview that Cardano is still a leading project in the crypto space.
- Hashoshi stated that Cardano has solved design problems better than other blockchain networks.
- The analyst said the development of use cases and the flow of liquidity into the network will drive its price up.
Crypto analyst Hashoshi, in a recent interview, said Cardano is still a leading project in the crypto space. According to him, while adoption and growth have been slow-paced, the blockchain has the potential to live into the future.
Hashoshi stated that while Cardano may appeal to only a few users in the crypto space, its different approach to solving problems has made it popular in some crypto circles. The analyst mentioned that Cardano has solved design problems much better than most other projects like Solana and Algorand.
While acknowledging that the project has made good and bad decisions, Hashoshi said the project is in a good position for recovery. According to him, a Cardano resurgence is possible if the conditions are correct.
Furthermore, the analyst mentioned that the delayed launch of its smart contract capabilities affected the network’s adoption and token’s price. Nonetheless, Hashoshi said the project is built for the future and will fill gaps in the crypto ecosystem.
The analyst believes more use cases and liquidity could drive the blockchain’s token price beyond its previous all-time high. Unlike before, Hashoshi said the future price pump would be motivated by utility and not speculation, as seen in the past.
Recently, the Cardano network introduced Hydra, a layer-two scaling solution, to increase the transaction processing capacity of the blockchain. Likewise, the blockchain added numerous features, including options allowing users with no prior programming experience to create smart contracts on the network.
Meanwhile, ADA’s price continues to decline amid prevailing bearish conditions. On a year-to-year basis, the token has shelled 52% of its price, according to data from CoinMarketCap. At the time of press, the token’s price sits at $0.243, a 2.06% drop in the past 24 hours.