Cardano is one of the cryptocurrency ecosystem’s fastest-growing initiatives. It has gotten a lot of attention because of its enormous potential. Notably, the project’s larger community is quite optimistic. ADA, the project’s native crypto asset, has increased by more than 850 percent in the last year.
At the time of writing, Cardano price was trading at $1.41. Sellers stepped in around $1.6 and drove the price down to $1.46. Although this was a significant support level, Cardano’s slump on larger time frames was still ongoing.
There were, however, some positive indicators. A bullish Bitcoin in 2022 might see ADA break out of its downtrend, as it did earlier this year.
2022 Roadmap for Cardano
With the project’s roadmap just unveiled, founder Charles Hoskinson is ready for the new year. In the most recent such post, the IOHK CEO discussed a few forthcoming Cardano features while also replying to the project’s critics.
“There are over 127 projects that I’m aware of that intend to or are actively building on Cardano.”
However, Hoskinson did hint that DEX will be launched on Cardano in some form on the mainnet in the coming weeks. He continued saying that DEXs are already on the testnet. There are already some on the mainnet, and there’s just a lot of competition there.
Hoskinson had previously revealed the aim for H2 2022 to promote end-to-end microfinance transactions on Cardano on Christmas Eve. The CEO highlighted that the period from January to June 2022 is critical for the marketing of Cardona’s utilization utility this time around.
According to the IOHK’s report, Cardano has already seen the launch of the P2P testnet and the introduction of the Plutus application backend in December.
Surprisingly, Hoskinson described the following 90 days as “a very busy time.” According to the executive, the Plutus improvements combinator event is tentatively set for February.
“The next hard fork combinator event is in June, and that’s going to bring up a lot of the Plutus improvements that people like the CDA recommend..”
The CDA, or Cardano DeFi Alliance, aims to “enable collaboration among leading DeFi protocols and innovate inside the Cardano DeFi ecosystem,” according to its website.
The exec concluded that this is a hint that a large DeFi ecosystem is beginning to emerge on Cardano.