{"id":456478,"date":"2021-02-11T12:15:33","date_gmt":"2021-02-11T12:15:33","guid":{"rendered":"https:\/\/wncen.com\/?p=456478"},"modified":"2021-02-11T12:15:33","modified_gmt":"2021-02-11T12:15:33","slug":"3-reasons-why-2021-is-shaping-up-to-be-the-year-of-cardano","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/3-reasons-why-2021-is-shaping-up-to-be-the-year-of-cardano\/","title":{"rendered":"3 Reasons Why 2021 is Shaping up to be The Year of Cardano"},"content":{"rendered":"
At the start of the year, Cardano’s market cap was hovering around $5.6bn. However, in five weeks, a flood of bullish sentiment has propelled this figure to $28.4bn. This was enough to leapfrog the likes of XRP and Polkadot to take the fourth spot on CoinMarketCap<\/a>.<\/p>\n Likewise, over this period, the price of ADA is up +420%. A rejection at $1<\/a> earlier this morning was somewhat expected. This historical resistance level has held since January 2018. Nonetheless, with a convergence of bullish fundamentals coming to fruition, analysts remain optimistic going into 2021.<\/p>\n <\/p>\n Cardano’s smart contract era is well on the way. Developers IOHK launched the Mary Goguen<\/a> testnet last week.<\/p>\n At this moment, user-defined tokens are being tested and monitored before the mainnet rollout. Assuming all goes to plan, devs will deploy on the mainnet at the end of this month.<\/p>\n “The deployment of Goguen \u2018Mary\u2019 marks a significant stage in Cardano\u2019s journey. When Mary turns her crypto key within the network, we will unlock the mechanism for users to create their own tokens for a myriad applications: Decentralized Finance (DeFi), and countless other business use cases.”<\/p><\/blockquote>\n On March 26, 2021, the D-parameter<\/a> will reach zero. When this happens, the Cardano network becomes 100% decentralized, meaning IOHK will have given up all block production control. From then on, independent stake pool operators will be fully responsible for the task.<\/p>\n Cryptocurrency is often criticized for the lack of real-world application, especially when viewed through a first-world lens where trading or speculation forms the bulk of its use.<\/p>\nSource: ADAUSD on TradingView.com<\/a><\/pre>\n
Fundamental Reasons to be Bullish on Cardano<\/h2>\n