Is it time to start paying attention to cardano again? Well, there’s a lot happening in the cardano ecosystem right now. That makes me think. The answer to that question is probably yes: lots of applications about to come online lots of public interest coming into cardonagon, as well as some major improvements coming to cardano in the not so distant future. All of that and more in today’s video, my name is lark everyday.
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What the heck is going on here, that is seeing so much interest coming back into cardano at this particular time. Well, we see a lot of on-chain activity happening. This is uh. Pretty crazy. Cardano is actually was yesterday.
The number two blockchain in transaction volume for the last 24 hours, so you can see here – we’ve actually now fallen back down to third place, but 4.12 billion dollars in transaction volume in the last 24 hours just behind ethereum of 4.26, and not that far behind bitcoin. At 5.78, what is going on in car donno land man – that is absolutely freaking crazy, also just wan na share this with you real, quick too.
This is a poll for the ethereum community. That vitalik did. He said you wake up in 2035 and 80 of all transactions and savings. The world are on one currency. That is not ethereum.
What would you prefer that currency to be? The answer was cardano just ahead of bitcoin. Anyway, that’s just a bit of fun there for you. Now, let’s get down to the business what’s going on with cardano. Why is the price surging?
Well, it’s because things are happening on cardano d5 is here. It is. Finally, after a long wait time for cardano to stake its claim on some market share in the decentralized finance space, it’s been some months since smart contracts were officially launched on the main net for cardano, but now we finally have some applications getting ready to. Let people experience defy on cardano. That means on thursday, when sunday swap launches you’re going to be able to do the centralized exchanges on cardano and you’re also going to be able to do yield farming on cardano, so you’ll be able to take your ada match it up with some other coins.
Get some yield, of course, just be aware that the rates can fall very, very fast as liquidity as mountains of money, basically just storm into what is really the first major application for d5 launched on cardano. Yes, we’ve had nfts on cardano for quite a while now, but this is the first big defy application launching and it’s a big big deal. This is what has been driving an interest in cardano from the wider crowd this week, but it’s not just sunday swap they are one of many that is coming out at the moment. Although funny as sam points out sam is one of the writers for our newsletter. Great guy go follow him on twitter.
He says: cardano criticism has switched pretty quickly from no one uses cardano to it won’t be able to handle all the activity. It’S quite funny, isn’t it how fast people people’s mentalities switch around? Now it’s going to be well, you know the next thing trying to disprove that cardano has value and cardano is useful. It’S quite funny how all these criticisms come around and it’s the same always it’s the same. We’Ve seen love against every other blockchain everybody’s, always trying to talk down everyone else’s technology and talk up their own stuff.
It makes a good point. What would be the next conversation point about cardano b now that people are using it and now that it will be able to handle the activity and look? We shall see, of course, how ready cardano is for a massive flood of users to come in when sunday swap launches could get very interesting very quickly. We shall watch and see what happens but uh nevertheless, an interesting development. In the conversation we also have other applications.
Launching we have wi-fi official as a defy protocol, not very familiar with it, but just bringing it up to show you there’s other stuff launching on cardano at this time. It’S not just sunday swap, although that’s the one, that’s getting the most attention, we do have other applications coming out here as well. We also, of course, have others that are going to be launching soon like ardana, which is a decentralized stablecoin ecosystem, as well as decentralized swapping protocol for cardano they’ve also set up a partnership with near protocol to allow for bridging of assets between the cardano and the Near ecosystems, which is a pretty big deal, you need to have bridges in place in order for liquidity to move from chain to chain easily. So it’s really important to see cardano teaming up with other block chains, essentially to help liquidity flow back and forth between the chains really important step for integrating cardano into the wider defy ecosystem. We also have metaverse stuff starting to happen, a metaverse called pavia or behavior.
However, you say that they’re out there as well launching the first cardano metaverse, so lots of stuff happening on cardano we’ve had nfts for a while. Now we have metaverse stuff. Now we have d5 stuff we’re going to have all kinds of stuff launching over the next few months. This is just the beginning for cardano emergo. The venture capital arm behind cardano also came out today and said that emergo and the cardano foundation have launched a project to build a tool stack for developers in order to accelerate dap development on cardano.
So that means we’ll see even more decentralized applications coming to cardano. In the not so distant future, the money’s out there they have a big adventure, venture capital fund behind cardano to help incentivize developers to come and build on cardano. They fund all kinds of different stuff from the cardano treasury. Now here we have a new initiative to bring in even more developers to get more products launched on top of cardone and of course, cardano has a massive massive community of people waiting to get access to these different protocols and to bring their ada tokens in to Provide liquidity and start earning even better yields than staking provides, of course, if you’re, a staker and you’re looking well, hey, i’m gon na go hop in and ape into the first thing that i see do be aware that once you leave the safe space of staking, You are taking some risks with impermanent loss and stuff like that in d5. So just you know, keep that in mind.
Now we did have that conversation a moment ago about, can cardano handle the sunday swap launch. Is it all going to crash and burn? Well? That aside, i want to point out that we do have a major scaling solution in play, which is coming soon for cardano. It’S called hydra.
So, basically, if you imagine the body of the hydra, as you know, cardano you have all the heads which are the different stake, pool operators that will allow cardano to scale in a massive massive way. So that’s coming soon. I think a lot of brain power is currently being put behind the hydra scaling solution to help cardano scale in a meaningful way to allow for a huge amount of users to come in because, as we see with a lot of blockchains, what happens, they fill up Their capacity very quickly, we have millions of people coming into the cryptocurrency space every month, millions of new people they all want to get into d5. They all want to buy nfts and all this stuff. We need big scaling solutions.
Hydra is a big scaling solution. So get to work guys, let’s get that deployed sooner than later. I think cardona definitely needs to have a good scaling solution ready to come online in the not so distant future, which is, of course exactly what’s going to happen. So we’re going to see the test net coming out for that soon, testing that, of course, one step for the main net. That’S how it works and cardano has been pretty good about getting um test net to main net within six to 12 months.
Historically, looking back so it may not be that far away before we actually see hydra coming online final point for today should i buy my cardano back now. You guys know i’ve always been a big cardano supporter here on the channel as one of the first people. Probably to cover cardano back in 2017, i did sell my cardano last year, though it was a, it was a nice return on it. I was sitting on like a 50x and had i waited a little longer, i could have got a slightly bigger return out of it, but i was pretty happy with my 50x when i did take profits on my cardano, but as we see all of this exciting Stuff happening here on cardona with applications. Finally, launching all this stuff, the question comes: should i buy back in well?
That is your question for today. Let me know what you think: should i buy some cardano back or better opportunities elsewhere, lark spend your money on this coin. Instead, let me know down below in the comment section thanks so much for watching today’s video and peace out till next time. You