Cardano (ADA) has emerged as one of the top-performing cryptocurrencies in 2021, surging from $0.16 on January 1 to $2.84 by late August. While this growth is impressive, many in the crypto community believe it’s just the beginning of Cardano’s potential. Here’s why ADA could see even greater gains in the coming weeks.
Cardano Before 2021: A Slow but Steady Ascent
Launched in 2017 by Charles Hoskinson, Cardano initially mirrored Bitcoin’s bull run, climbing from $0.026 to $1.11 by early 2018. However, the subsequent crypto winter pushed ADA back to around $0.10, where it hovered for years with minor fluctuations.
During this period, Cardano’s developers focused on executing a meticulous roadmap divided into eras, each marked by critical blockchain upgrades. Unlike projects chasing short-term hype, Cardano prioritized long-term growth—a strategy that’s now paying off.
Cardano in 2021: The Turning Point
ADA’s price rally began in late 2020 but accelerated in 2021, fueled by Bitcoin’s bull market and Cardano’s own technological milestones. Key developments included:
- Network upgrades: Rolled out throughout the year, enhancing scalability and functionality.
- Market recognition: ADA joined the ranks of top 10 cryptocurrencies by market cap.
👉 Discover how Cardano compares to Ethereum
The Game Changer: Smart Contracts on Cardano
Scheduled for launch in September 2021, smart contracts will unlock Cardano’s true potential as a development platform. Here’s what this means for ADA:
Expanded Use Cases:
- Decentralized applications (dApps)
- DeFi protocols and tokens
- NFTs and custom tokens
Ecosystem Growth:
- Attracts developers and projects, increasing demand for ADA.
- Positions Cardano as a rival to Ethereum and Binance Smart Chain.
Price Impact:
- New utility could drive ADA beyond its $3 resistance level.
- Long-term projections remain bullish as adoption grows.
FAQs: Cardano’s Smart Contracts and ADA
Q: When will Cardano’s smart contracts go live?
A: Expected in September 2021, starting with the Alonzo upgrade.
Q: How will smart contracts affect ADA’s price?
A: Historically, major upgrades correlate with price surges due to increased utility and demand.
Q: Can Cardano compete with Ethereum?
A: Yes—its lower fees and scalable architecture make it a strong alternative for developers.
👉 Explore Cardano’s roadmap in detail
Conclusion
Cardano’s methodical approach has set the stage for a transformative phase. With smart contracts imminent, ADA could breach $3.34 and establish new all-time highs. While short-term volatility is inevitable, Cardano’s fundamentals suggest sustained growth ahead.