Hydra Event to boost Cardano Price?

[Pam beasely]

Cardano hydra update

Hydra is the next upcoming upgrade of Cardano for layer 2 scalability solution, its mainly aims to increase transaction speed through low latency and high throughput which also offers minimized transaction cost.

What will hydra do for Cardano
The price of Cardano (ADA) has certainly not seen a favorable price action following the Hydra announcement, as the price proceeds to decline constantly. However, a more negative impulse is prepared to fit on the price due to which, the ADA price may develop new lows before the end of 2022.

Cardano could reach the $1 mark by the year 2024 and cardano price prediction for 2023 is $0.71.

In spite of massive bearish clouds hovering over the ADA price, the token is believed to surge any time from now.

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[mich]

I am just waiting for the Cardano's algorithmic stable coin Djed to be launched. With the price leveraged close to $1 like other stablecoins I think it could be a reason for Cardano which I HODL to also go up in price.
It will be different with having 2 versions 1 version to serve as a medium of a exchange. The other version being the smart contract to pay all transaction fees on Cardano's network.

[Elena_Rodriguez]

Cardano's price has slid down heavily in the past couple of days, marking new lows for the year 2022. But there are hopes that ADA price will surge in coming days and it is because of few points.

• Of coarse, Hydra event is one to be considered.
• Cardano secured the highest spot in the latest GitHub weekly development report
• ADA total weighted sentiment has been bullish, trading within the positive range for quite a long time regardless of the direction of the price.
• ADA top addresses holding between 100 to 1 M ADA tokens have been incremental in the last few days.

Considering the above optimistic scenario, ADA price prediction for 2023 is as high as $0.71. The bearish trend could be only for end of 2022. We can expect a surge in cardano very soon.

References -
Coinpedia (https://coinpedia.org/price-prediction/cardano-price-prediction/), Glassnode and Twitter

[mich]

If we are talking about a boost in cardano price, we must talk about Charles Hoskinson opening up his new hospital next month. The Hoskinson Health & Wellness Clinic in Wyoming, USA is set to allow patients to pay with ADA tokens.
It will be just like a normal hospital with all the services offered there. Cardano is up 20% this week and now #9 on coinmarketcap passing dodge coin so I wonder if this news is bringing in new investors and money.

[btc_angela]

If we are talking about a boost in cardano price, we must talk about Charles Hoskinson opening up his new hospital next month. The Hoskinson Health & Wellness Clinic in Wyoming, USA is set to allow patients to pay with ADA tokens.
It will be just like a normal hospital with all the services offered there. Cardano is up 20% this week and now #9 on coinmarketcap passing dodge coin so I wonder if this news is bringing in new investors and money.

Perhaps it did or it is just that the market is really up starting this year, BTC, the prime mover is going to $17,500 so that is a huge jump from the last lowest low and maybe the FTX ghost is behind us that's why the market is going green including ADA.

Or course, this kind of news will create another hype for the project as Charles is very active inside and outside of his project.

And I will not be surprised if ADA is one of those projects against that will have a good increase in the next coming bull run and probably break into the top 5 again just like it did during the last bull run.

[hugeblack]

Cardano (ADA) was a great project, but its success was dependent on the continued rise in Ethereum fees and its failure to transfer to POS crypto, something that did not happen, and therefore the project needs real development in order for it to stand in the coming years.

Such events will not change the price.

[Jackl87]

I am just waiting for the Cardano's algorithmic stable coin Djed to be launched. With the price leveraged close to $1 like other stablecoins I think it could be a reason for Cardano which I HODL to also go up in price.
It will be different with having 2 versions 1 version to serve as a medium of a exchange. The other version being the smart contract to pay all transaction fees on Cardano's network.

I don't know but launching a own stablecoin seems very dangerous to me after all that stuff that happened to project that also had their own stablecoins in the last few weeks and months. First of all there was the totally unexpected collaps of Terra (Luna) which was a top 10 coin when it happened if i remember correctly. This whole even took the whole crypto market down with it because it was so severe. The stablecoin of waves USDN (Neutrino) has also lost its peg for many weeks in a row now and at the moment it is at around 0,40$ which is absolutely horrible for a stablecoin and that is also the reason why the price of Waves collapsed from more than 50$ per coin to now around 1,5$.
So you should be really sure that you have enough funds and reserves to launch your own stablecoin, because it must be so bulletproof that it can also hold its peg even if we are having 3 more years of bear market in front of us for example.

[mich]

Cardano is making a lot of news and I think it might be for the release of Djed Stablecoin. They said it is going to be released in January so any time now we can expect to see it and I will be stacking some of them.

According to Bloomberg, Charles Hoskinson is considering buying CoinDesk. This would be very big for ADA. Cardano DeFi TVL has now passed $90 million and Cardano dApps have successfully transacted more than 5.4 trillion ADA.

[mich]

It is finally happening next week Cardano will be releasing long awaited Stablecoin Djed. There is more then 2.5 million people holding ADA so we can wish many of them will also buy some Djed Stablecoins.

I am reading there are almost 3,000 new ADA wallets every single day. There have been almost 5,000 Smart Contracts that deployed on mainet. Almost 3,000 stake pools so this coin will see gains and profits for the holders.

[ElectricAR15]

how does this boost ADA's price though? (the stablecoin)

[Yaunfitda]

how does this boost ADA's price though? (the stablecoin)

Perhaps it was the hype that might push the ADA's price in the future. We all know that everything here is based on hype and ADA is already a solid project to begin with.

And now with their supposedly stablecoin joining the competition, maybe in the beginning it will boost its price specially as we are approaching the next bull run in 2024-25. So yeah, ADA is still a good coin to invest, to be honest, this project is one of the best that I did put my money in 2018 and I was happy for the profits that I got. So the same strategy for me, invest as much as I can in this project and look for long term.

[Blitzboy]

Regarding Cardano and the impending Hydra upgrade, I get where you're coming from. Imagining a token's future development and growth is thrilling.

I agree with you that the rising Bitcoin price has the potential to boost Cardano's development. If Bitcoin's price goes up, it might have a domino effect on other altcoins like Cardano, since the cryptocurrency market seems to be strongly connected.

Predictions of prices are only that, so keep that in mind. Since the cryptocurrency market is so unpredictable, nothing is certain. It is possible to make educated choices, however, if you put in the time and effort to learn about the industry and do thorough research.

It's encouraging to note that the Cardano Hydra upgrade is geared on enhancing the platform's scalability and transaction speed. As a result, this has the potential to have a significant influence on the cost of ADA while also benefiting its users.

It is up to us to make educated judgments based on our study and understanding of the crypto market, which is ripe with potential gains. Have fun!

[mich]

The Hydra Protocol has now launched. It is necessary to help Cardano scale because of limited blocks per transaction.

https://zycrypto.com/cardano-ada-sees-immense-price-bump-in-18-months-as-ecosystem-grows-exponentially/