Cardano releases important updates But will the price pick up anytime soon?

Paigambar Mohan Raj
Source: Coinbase

Cardano (ADA) is one of the most popular crypto projects out there. Input Output (IOHK) the development firm behind Cardano (ADA) has released an update via Twitter on all that has gone on in the project over the last week. The updates are a series of platforms that were built on the Cardano ecosystem.

Cardano now has nearly 900 projects being built on its ecosystem.

Developments on Cardano (ADA)

GENSX and a tiered staking program were introduced by Genius X, a platform where ambitious entrepreneurs developing on Cardano receive vital support in business development operations to gain speed, scalability, and edge.

Blueshift, a capital-efficient AMM digital exchange protocol, was listed on CoinMarketCap and CoinGecko, two of the biggest crypto data aggregators. .

GADA ended their seedroud sale in less than 24 hours. GADA intends to promote the Cardano ecosystem’s growth and adoption by providing a secure and decentralized platform for companies seeking finance and incubation.

NFT Maker’s $NMKR token went live on popular exchange platform, LCX.

Iagon has successfully migrated over 50% of their supply to the Cardano ecosystem. Iagon is a protocol allowing truly decentralized data storage on Cardano.

The mainnet for Lending Pond has gone live. This is a lending and borrowing platform for NFT’s on Cardano, being the first platform to do so on ADA. Lending Pond has also announced a cooperation with SundaeSwap, which will allow users to quickly change between tokens that enable Lending Pond loans.

COTI also announced their partnership with FluidTokens to use Djed as the stablecoin for their NFT-collateralized loans platform.

Additionally, an update proposal was presented before the weekend to increase the ADA main net block size by 8K. This update was supposed to go into effect on Monday, April 25th, at 20:20:00 UTC.

Are the developments helping ADA?

Although the Cardano projects boast utility and innovation, ADA has failed to deliver on many of its promises. The project is still struggling to make gainful advancements with respect to its price.

Untimely releases have upset users and fans alike. A recent study had found that a majority of ADA holders were at a loss.

At press time, ADA was trading at $0.878222.