Cardano, once among the top 3 cryptocurrencies, hasn’t made any headway in the market for a while. However, extrinsic exaggerated triggers may be required for recovery.
About 2 months ago, Cardano unveiled its tree plan, and while the idea was high, it had no significant impact on altcoins. The price continues to fall and today ADA is trading at $ 1.22.
But Samsung’s latest move in a similar path could really change everything. First, partnering with a company like Samsung will bring Cardano into the mainstream.
Second, Cardano’s DeFi performance wasn’t disruptive, which is why the release of smart contracts didn’t fuel the price boom as expected. However, using Veritree could boost Cardano’s smart contract capabilities and pique the interest of developers.
Cardano needs this now that it is on the cusp of social development.
The development team still needs to roll out major upgrades. In addition, the 30% decline in December took all of their optimism away and sent sentiment completely back into negative territory.
Cardano investor sentiment | Source: Santiment
However, hopes of a strong January encouraged new investors to join in, and the network saw addresses surge by 30,000 addresses per day.
The event could boost Cardano’s social presence, which has grown significantly by an average of 468% in 2021.
Social growth | Source: Cardano
Currently, 2.45 million investors who have lost money in 4 months are hoping for a rebound.
Cardano investors are profitable | Source: Intotheblock
While it’s impossible to say when it will, Cardano has managed to build on its MTH dominance with 2 million investors (9%) holding HODL.
Cardano Investor Distribution | Source: Intotheblock
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