Cardano (ADA) is attracting attention with its recent developments and predictions. Analyst Dan Gambardello believes its strength has increased tenfold compared to previous cycles. He credits this surge to the network's move to a fully decentralized, community-owned blockchain, especially following the Chang Upgrade on September 1.
The termination of Cardano's genesis keys marks a major milestone in its transition to community governance, making the network more secure and decentralized. Input Output Global (IOG) played a significant role in this transformation, enhancing Cardano's robustness compared to earlier cycles.
Cardano introduced Hydra, a layer-2 scaling solution, to ensure high transaction throughput while maintaining security and decentralization. This advancement aims to give Cardano a competitive edge over networks like Ethereum, renowned for its scalability challenges.
Despite recent underperformance, Cardano remains resilient in the top 10 during market downturns, with a market cap increase from $2.997 billion in 2020 to $12.64 billion. However, analysts suggest caution, noting that current conditions may not be ideal for Cardano investments.
