Ethereum competitor Cardano (ADA) already had a phenomenal run in 2021. However, one analyst sees another factor that could take ADA to new all-time highs.
Charles Hoskinson: "Thousands of assets on Cardano".
On social media, Cardano founder Charles Hoskinson is currently responding to accusations that no one is using or developing for his cryptocurrency ADA. The background to this is a prediction Hoskinson made in July 2020: in it, the programmer guarantees that Cardano would host "hundreds of assets", "thousands of DApps" (decentralised applications) and many "tokens and projects" as well as unique uses within a year.
This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility. 2021 is going to be so much fun watching Cardano grow and evolve. The community is definitely ready to innovate
Numerous users are currently reacting to Hoskinson's forecast from last year - and point out that the development of the Cardano network is not progressing quite as quickly as announced. One user, for example, writes that there is "not a single DApp on ADA".
"There are thousands of assets on Cardano. I guess you haven't been paying attention. Lots of developers learning, training, writing. A lot of startup apps."
What exactly the Cardano founder means by this, however, remains unclear, as he provides no links or further information on his statement. However, top analyst Nicholas Merten, for example, believes that ADA will soon rise to new heights.
Goguen update brings smart contracts
In a new video, he names precisely the factor that he believes will catapult ADA to new all-time highs.
"Must say this chart looks really good, and it shows me in this general case that in the next couple of weeks to the next two months that there will be some kind of catalyst that will take the price higher."
That catalyst, according to Merten, is Cardano's upcoming Goguen update. Merten is certain: the major upgrade has the potential to push Cardano to its all-time high - and then explode beyond it. The launch planned for August is the "perfect macro catalyst", says the analyst. He even calls it a "now or never" moment for Cardano:
"Now is finally the time to see the materialisation of the hard work. It really is now or never in my opinion. Cardano is in the spotlight here. There's a lot at stake and investors are waiting to see it."