{"id":264439,"date":"2022-10-17T01:00:30","date_gmt":"2022-10-16T19:30:30","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=264439"},"modified":"2022-10-16T15:33:53","modified_gmt":"2022-10-16T10:03:53","slug":"cardano-this-development-may-offer-much-needed-comfort-to-ada-traders","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/cardano-this-development-may-offer-much-needed-comfort-to-ada-traders\/","title":{"rendered":"Cardano: This development may offer much-needed comfort to ADA traders\u00a0"},"content":{"rendered":"<p>What can holders or crypto enthusiasts expect from<a href=\"http:\/\/ambcrypto.com\/cardano-holders-can-expect-this-from-ada-in-the-coming-days\/\"> Cardano [ADA]<\/a> in the coming days? However, a bigger question is could significant updates lead to a much-needed <a href=\"http:\/\/ambcrypto.com\/as-cardano-crashes-below-0-4-should-traders-consider-shorting-ada\/\">price growth<\/a> for Cardano&#8217;s native token?<\/p>\n<p>_____________________________________________________________________________________<\/p>\n<p style=\"text-align: center;\">Here\u2019s <a href=\"http:\/\/ambcrypto.com\/predictions\/cardano-price-prediction\">AMBCrypto\u2019s price prediction for Cardano (ADA)<\/a> for 2022-23<\/p>\n<p>_____________________________________________________________________________________<\/p>\n<h3><strong>Answering queries<\/strong><\/h3>\n<p>Cardano remains one of the<a href=\"http:\/\/ambcrypto.com\/cardano-surpasses-btc-eth-on-this-front-can-ada-keep-up-with-the-pace\/\"> biggest and most-developed<\/a> L1s within the crypto ecosystem. While Cardano was slow in adding the smart contract functionality, it had a leg up on other L1s in scalability and security. One of the reasons why many projects rely on Cardano over Ethereum is for its smart contracts.<\/p>\n<p>But one special project was SundaeSwap. An automated liquidity provision protocol and decentralized exchange on Cardano that enabled the swapping of SUNDAE and ADA on the SunDaeSwap exchange.<\/p>\n<p>The popular decentralized exchange (DEX) SundaeSwap successfully launched Hydra, a key layer 2 solution to further improve Cardano\u2019s scalability. Although, the team <a href=\"https:\/\/twitter.com\/SundaeSwap\/status\/1580969361892085762\">added<\/a>,<\/p>\n<blockquote><p>https:\/\/twitter.com\/SundaeSwap\/status\/1580969361892085762<\/p><\/blockquote>\n<p>Following this, in a tweet, Cardano founder Charles Hoskinson asserted that \u201cHydra is coming to Cardano one DApp at a time\u201d in response to SundaeSwap\u2019s Hydra demo.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Hail Hydra! So glad to see this demo. Hydra is coming to cardano one DApp at a time <a href=\"https:\/\/t.co\/k9i1wG3OKO\">https:\/\/t.co\/k9i1wG3OKO<\/a><\/p>\n<p>&mdash; Charles Hoskinson (@IOHK_Charles) <a href=\"https:\/\/twitter.com\/IOHK_Charles\/status\/1581149179065225216?ref_src=twsrc%5Etfw\">October 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Overall, Hydra could be the key layer 2 solutions to further improve Cardano\u2019s scalability layering a new protocol on top of the existing layer 1 blockchain. This could also aid ADA&#8217;s price in the near future.<\/p>\n<p>Needless to say, the demo caused a lot of stir within the Cardano community following the Hydra update. Lead Hydra developer Sebastian Nagel <a href=\"https:\/\/twitter.com\/ch1bo_\/status\/1581031872301522944?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1581031872301522944%7Ctwgr%5E371f4a7da6acb6b331fe651fd4da44cdf42b5138%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fthecryptobasic.com%2F2022%2F10%2F15%2Fhydra-is-coming-to-cardano-one-dapp-at-a-time-as-sundaeswap-reveals-successful-demo%2F\">lauded<\/a> the effort from the SundaeSwap team, stating his interest in improving the protocol with their help.<\/p>\n<p>Meanwhile, SundaeSwap Labs CTO had to say about this demo,<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The thing I&#39;ve been emphasizing in person is: IMO Hydra is not a single solution; it&#39;s a design space, of which the Hydra team has been building the &quot;purest&quot; example; there are lots of other points in the space that make different tradeoffs and are suitable for other dApps.<\/p>\n<p>&mdash; Quantumplation | Pi Lanningham (@Quantumplation) <a href=\"https:\/\/twitter.com\/Quantumplation\/status\/1581276065166544898?ref_src=twsrc%5Etfw\">October 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Developers launched the Hydra Heads protocol on the public testnet in March. Some users have expressed the belief that these features would make Cardano, often <a href=\"https:\/\/twitter.com\/r4vs5i\/status\/1581150932804726784?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1581150932804726784%7Ctwgr%5E371f4a7da6acb6b331fe651fd4da44cdf42b5138%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fthecryptobasic.com%2F2022%2F10%2F15%2Fhydra-is-coming-to-cardano-one-dapp-at-a-time-as-sundaeswap-reveals-successful-demo%2F\">touted<\/a> as an \u201cEthereum Killer,\u201d the king of DeFi soon.<\/p>\n<p>Did it help or rather boost morale? Development activity and trading volume both saw a much-needed uptick as per analytical platform, Santiment.<\/p>\n<figure id=\"attachment_264461\" aria-describedby=\"caption-attachment-264461\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-264461\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Cardano-ADA-19.32.05-16-Oct-2022.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Cardano-ADA-19.32.05-16-Oct-2022.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Cardano-ADA-19.32.05-16-Oct-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Cardano-ADA-19.32.05-16-Oct-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Cardano-ADA-19.32.05-16-Oct-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Cardano-ADA-19.32.05-16-Oct-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/Cardano-ADA-19.32.05-16-Oct-2022-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><figcaption id=\"caption-attachment-264461\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<h3><strong>Alarms ringing here\u00a0<\/strong><\/h3>\n<p>Yes, the Cardano development team launched Hydra heads on public Cardano Testnet. But did it create any new news for ADA? Well, not really. In fact, prominent bears spell doom for Cardano as price slipped to a 21-month low. The<a href=\"http:\/\/ambcrypto.com\/predictions\/cardano-price-prediction\"> native token<\/a>, at present, had witnessed a 13% fall in a week&#8217;s time, hence the further slump in its price.<\/p>\n<p>On CoinMarketCap, ADA stood at the $0.36 mark.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What can holders or crypto enthusiasts expect from Cardano [ADA] in the coming days? However, a bigger question is could significant updates lead to a much-needed price growth for Cardano&#8217;s native token? _____________________________________________________________________________________ Here\u2019s AMBCrypto\u2019s price prediction for Cardano (ADA) for 2022-23 _____________________________________________________________________________________ Answering queries Cardano remains one of the biggest and most-developed L1s within<a href=\"https:\/\/ambcrypto.com\/cardano-this-development-may-offer-much-needed-comfort-to-ada-traders\/\">Continue reading <span class=\"sr-only\">&#8220;Cardano: This development may offer much-needed comfort to ADA traders\u00a0&#8220;<\/span><\/a><\/p>\n","protected":false},"author":68,"featured_media":264440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-264439","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cardano: This development may offer much-needed comfort to ADA traders\u00a0 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"What can holders or crypto enthusiasts expect from Cardano [ADA] in the coming days? 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