The crypto giant Grayscale makes revelations on the future of Cardano, saying its depends on one important factor. Additionally, In a recently published report, the digital asset manager in a report says Cardano is currently handling over 115,000 transactions daily.
Notably, this amounts to about 13x since the start of 2021. More so, The network boosts with about 2.8 million users, representing a 7.3x rise since the start of the year.
Furthermore, Grayscale says that Cardano network growth maintenance is a major key to to push it forward.
“If dApps (decentralized applications) and other new use cases attract new users,…”
“….drive increased network usage, and improve Cardano’s metrics,…”
“…these factors may support a fundamental value rotation into ADA by existing and outside investors.”
Notably, Grayscale’s analysis is on the basis of Cardano deployment of smart contracts on its mainnet last month. Which of course, allows the Ethereum competitor to deploy dApps on its platform.
Additionally, Grayscale notes that if Cardano launches a “compelling cloud super app platform and dApp ecosystem for users”. It will however determine whether the protocol goes all along the long-term.
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“Multiple Web 2.0 cloud providers – including AWS (Amazon Web Services), Google Cloud, Microsoft Azure, Alibaba Cloud and Tencent Cloud…”
“…have achieved material success today to differing degrees…”
“….The crypto cloud market may follow a similar path, and Cardano may not need to be the only winner to achieve success…”
“…If Cardano can reach its goals, its features, along with the network’s large user community,…”
“…may allow the ecosystem to capture meaningful share within the rapidly growing crypto cloud platform market.”
ADA trades at $2.19 at time of writing, indicating over 26% decline within the past 30 days, according to CoinGecko.