Cardano ADA Could Be the Best Cryptocurrency Investment in 2022 

Since November, the cryptocurrency market has shredded nearly 50% of its valuation of over $3 trillion.

While many have chosen to stay away from investing, the bear season is always considered the perfect time to invest in digital currencies in preparation for an inevitable bull market, and Cardano (ADA) could be your best bet for the year. 

Although the sixth-largest cryptocurrency by market capitalization is down 65.3% from an all-time high (ATH) of $3.09, according to Coingecko, the token seems set to become the hottest cryptocurrency in 2022. 

The team overseeing the Cardano project is already doing a remarkable job of putting the cryptocurrency in the limelight. 

One of the team’s efforts to put Cardano in the limelight includes navigating the project into the world of decentralized finance (DeFi). 

Road to Decentralized Finance 

Last year, Cardano officially began its journey into the world of decentralized finance (DeFi) by deploying smart contract functionality. 

The development puts Cardano in the perfect spot to compete against top networks like Ethereum and Solana, which have been a hub for decentralized application developers. 

While it may initially seem difficult for Cardano to usurp Ethereum and Solana to become a favorite for dApp developers, it is worth noting that developers have faced significant challenges using Ethereum and Solana. 

Developers building on Ethereum are forced to pay a significantly higher fee on transactions as a result of network congestion. 

Similarly, dApp developers in Solana have not been left out as the blockchain has suffered network outages on several occasions 

Since it has not been long since smart contract compatibility was deployed on Cardano, the blockchain is less congested and could see widespread adoption from dApp developers in the coming months, thus causing ADA prices to surge. 

Aside from dApp developers choosing Cardano as their favorite, several decentralized exchanges are also looking forward to launching on the network following the integration of smart contract compatibility.

Cardano’s Upcoming Upgrades

Interestingly, a number of upgrades have also been lined up for Cardano this year. Cardano will roll out peer-to-peer (P2P) testnet, a feature that will usher in P2P staking in the coming months. 

In addition, Cardano’s upcoming Hydra layer-2 system will also be unveiled later this year to further enhance the network’s speed, with Cardano expected to process a whopping one million transactions in one second. 

Following efforts by the Cardano team to put the project in the path of decentralized finance and the upcoming upgrades that will be unveiled in the coming months, it is expected that ADA’s value will surge significantly. 

The article is for informational purposes only, please do your research before investing in any financial assets. Read full disclaimer.