The direction of the Cardano network became a conundrum following the absence of a price increase on its ADA tokens after the launch of the Alonzo hard fork in September 2021.
However after four years of the network being launched and after more than two months of Alonzo broadcasting, Cardano finally saw its 20 millionth transaction.
Cardano’s performance also proves it is still relevant in the crypto industry even though investors are already beginning to doubt its potential.
But, wait a minute!
In a recent post, the network is gearing up with the testnet launch of its decentralized exchange platform (DEX), SundaeSwap on December 5th.
Interestingly this fact, even though Cardano lasted four years without DEX, it managed to accommodate more activity on the network than Ethereum (ETH).
For example, users can mine non-fungible tokens (NFT) in Cardano. But since Ethereum is more sustainable in supporting DEXes and NFT, it’s no surprise that Cardano had to ‘lose’.
Most importantly, Cardano has never faced network complications, perhaps far more stable than Solana (SOL) which faced blockchain failure on September 15th.
Perhaps with the presence of SundaeSwap, Cardano will be more aggressive in competing with Ethereum and Solana.
At the time of writing, the ADA is trading at $ 1.66, up over 8% in 24 hours.
