Charles Hoskinson, the founder of Cardano, has announced that the ecosystem could grow to accommodate a billion users with the release of its new cryptocurrency wallet, Lace.
Cardano Ecosystem to get a New Wallet
In a recent interview, Charles Hoskinson, Co-Founder and CEO of Input Output Global (IOG) said that he believes that Lace, the new lightweight Cardano wallet, could take its ecosystem to one billion users.
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This is because Lace, which is currently in its beta stage, will seamlessly connect everything in Web 2.0 and Web 3.0 to a single interface. The all-in-one wallet will allow users to manage NFTs, DApps, and DeFi services in a single interface.
Price Expectation for Cardano (ADA)
Despite the cryptocurrency market still showing great strength, ADA trades sideways today after its 10% rally on Tuesday, October 25th, when it rallied to a two-week high at $0.415.
The three-day price chart for ADA. Source: CoinMarketCap
ADA currently trades at $0.406, and Santiment’s MVRV Z-Score for Cardano shows that the altcoin is undervalued. Already, ADA looks to be showing bullish signs, with the NFTs on the network recently growing by 300%.
With more than 1,000 projects currently being developed on Cardano and Lace, and the “world’s financial operating system” launching soon, ADA could embark on a major rally to touch $0.75 if macroeconomic conditions remain favorable for the crypto market.
On the Flipside
- Commenting on the hotly debated topic of Ethereum’s classification, the Cardano founder noted that “now, it’s a proof-of-stake system” and that ETH is a security.
Why You Should Care
The projects in development on the Cardano network give ADA one of the biggest potentials for a massive price breakout before the end of the year.
Get updates on ADA’s listing on FTX below:
Sam Bankman-Fried Provides Update for Cardano (ADA) Listing on FTX
Find out more about Cardano’s development below:
Over 100 New Smart Contracts Added to Cardano Two Weeks After the Vasil Hard Fork
