The founder of the Cardano blockchain believes that even in the current market situation, positive aspects can be found, as the bearish trend opens up new opportunities for development.
Charles Hoskinson is not at all concerned about the fall of the crypto market, he said in interview Yahoo Finance. On the contrary, Hoskinson and the Cardano development team are now focused on preparing for the launch of the Vasil update, which should improve the performance of the blockchain. Hoskinson said that demand for the Cardano network is growing exponentially, so urgent changes need to be made to keep the ecosystem running smoothly. Businessman now is the best time to reach new heights6
“Bullish trends can be very disappointing because few people want to cooperate: someone moves to other networks, someone has unrealistic expectations. A bearish trend is convenient. Personally, I have experienced about six market downturns, and each time we have achieved significant success. It was from there that the “revolution” of smart contracts and most of the DeFi projects began. The current market downturn is the perfect time to focus on improving your performance and user experience.”
Hoskinson claims that the Cardano blockchain has begun to gain popularity in the non-fungible token (NFT) space. According to the founder, about 40% of applications deployed on Cardano are associated with collectible tokens. Three of them have a monthly NFT volume of about $270 billion, which is more than $3 billion per year. Previously, Hoskinson criticized the state of the decentralized finance industry for reduced activity and increased hacker attacks.
According to a recent survey, conducted by London Real TV on Twitter, the ADA cryptocurrency is considered one of the most popular coins that users prefer to hold during a market downturn. 8,861 people took part in the survey, of which 76.9% prefer to hold ADA, while 11% of respondents voted for bitcoin, and 5% for ether. ADA currently has a market capitalization of $20.6 billion.
Source: Bits
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