The growth of Cardano (ADA) has been on the rise since the beginning of this year. However, the digital currency slowed down considerably in the third quarter of this year. Cardano (ADA) is among the top ten digital currencies in the market.
However, the recent price trend of the digital currency has not been really impressive. Cardano (ADA) even stands a risk of falling off the list of top digital currencies in the world by market cap.
Nevertheless, Cardano (ADA) is not the only digital currency on this downward slope. The entire crypto market has been sluggish. Bitcoin (BTC) has also lost a considerable fraction of its value, but it is still the most dominant coin in the market. Bitcoin (BTC) currently dominates 52 percent of the entire market share.
Though the price action of Cardano has slowed down, the blockchain project has refused to back down in terms of development. Cardano has seen a lot of developments lately, and its investors expect these developments to be translated into price spike.
The Cardano Team Aims for Increased Adoption
The Cardano (ADA) team are channeling more of their focus on the adoption of the coin. They have shifted their focus from the development of the platform to increase the awareness of the blockchain project. Cardano (ADA) has grown to become one of the most popular digital currencies in the market. An increase in its adoption will definitely serve as a catalyst to spike its value.
In an effort to increase its presence in the market, the team has opened up the platform for the development of dapps. Third-party decentralized app developers can now build dapps on the platform.
Cardano (ADA) Releases Rust SDK
The Mainnet launch of Cardano is fast approaching, and a lot of investors have been waiting in anticipation. However, the Cardano team has decided to add spice to the much-awaited Mainnet by announcing “Rust SDK.”
Rust is a Mozilla product that will provide a variety of tools for developers to develop apps on the ecosystem seamlessly. This will attract more developers to the platform, drive its demand, and increase its value in the near future.
Cardano (ADA) Targets Smartphone Users with Yoroi Wallet
Back in August, IOHK team targeted smartphone users by releasing a new wallet. The wallet launched to target smartphone users is Yoroi. The wallet is set to be a big hit, especially in Asia. Asia is known to have seen one of the highest levels of smartphone and internet penetration in the world. The wallet is fast and easy to download and install, and it functions just like your normal Chrome extension.
Based on P2P review algorithm, Cardano Dapps give developers the space to think outside the box. It allows them to showcase their exceptional skills and abilities as opposed to Ethereum. The blockchain of Ethereum has a lot of internal restrictions.
Cardano (ADA) Price Today – ADA / USD
Cardano (ADA) is currently ranked 9th on the list of top digital currencies in the world by market cap. The digital currency currently has a market cap of $2.10 billion with a trading volume of $23.87 million. However, the value of the coin has reduced by about 2.5 percent over the past twenty-four hours, leaving it to trade at $0.08088 at the time of writing.
With the recent developments around the digital currency, the value of the coin might test new highs even before the launch of its Mainnet.