Hello! Hello! It’s a hot week for Cardano fanboys & girls, the moment they have all been waiting for. The Cardano community is known to get a lot of hate for their loyalty to the ecosystem with most believing that it can not possibly overtake Ethereum but YouTubers such as Alex Becker seem to disagree. Alex is known for trolling Cardano and it’s price movement in most of his videos, with him quoted saying Cardano fan boys “don’t like money”.
However, the past week has seen a sea of red in most crypto coins and tokens BUT Cardano seems to stay strong but why? Well, that’s because of the good old SundaeSwap.
SundaeSwap Calendar
The Cardano trading volume increased rapidly within a period of a short amount of days with it peaking on the 18th of January as the hype eased down. According to CoinMarketCap Cardano volume moved from $41 Billion USD on the 14th of January to $53 Billion USD on the 18th of January.
As impatience on ETH2.0 rises, so do the debates and speculation on who the “ETH Killer” will be. We can see this as Cardano announced smart contracts late last year but is still struggling to reach the transaction volume of the coin it intends to “kill”; and people are speculating that a launch of a DEX such as SundaeSwap will be a catalyst for change; we can only wait to see whether the Cardano network succeeds. The past weeks have already led to inconsistencies in Cardano DApps with native wallets not being able to send transactions or accounting for incorrect figures; it is the good old saying of “Be careful what you wish for…”- the question is now will Cardano become the “ETH Killer” or will it effectively kill itself in the process of competing with ETH.
The SundaeSwap Mainnet launches today (20th January)- expect more influx to the Cardano network, as well as increased trading activity and speculation, this will be followed by the Initial Stake Offering for the SundaeSwap token which will lead to a lot of staked ADA on the network, which should, in theory, push the price of Cardano up, but there are no guarantees on such a correlation. There was a vote for the stake pool operators late last year when delegating your Cardano to make sure to check here for the official delegators for the SundaeSwap ISO. Furthermore, watch out for the fees of each staking pool as well as the saturation; look for lower saturation to get more rewards.
I am curious to see the development of Cardano, as this will be arguably a defining moment for the network as it has benefitted from a loyal and active community but, execution is always needed and there is a deadline for execution before people take their loyalty somewhere else or start questioning the product as we have seen with Ethereum. Good luck Cardano & Cardano fanz!
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Written by Rodrick Rahim Chattaika © Crypto University 2022