Cardano’s native coin ADA rallied over 1000% in 2021, from $0.30 to peak at $3.09 and despite a recent sell-off, remains over 750% up over the past year.
Cardano Foundation CEO Frederik Gregaard says that 2021 has been a great year for the Cardano protocol, with “sustained growth, technical innovation, community expansion, and [major] partnerships,” the key highlights.
Cardano Foundation chief stated this after he highlighted some on-chain achievements over the year in a blog post published 22 December.
Gregaard said that Cardano’s growth was due to increased adoption (ADA), particularly after the blockchain achieved new milestones, including the addition native tokens and launch of smart contract capabilities. Decentralized finance (DeFi), as well as decentralized exchanges (DEXs), were possible through key developments, he said.
🎊It has been an extraordinary year for the Cardano Foundation, with major achievements and significant milestones achieved. #Cardano protocol!
We are pleased to share some of our top highlights from 2021 with your enjoyment!
Take a look👇https://t.co/YZj8RtDIDz pic.twitter.com/VtraaOFIub
— Cardano Foundation (@CardanoStiftung) December 22, 2021
The Cardano network had minted more than 2.5 million native assets since the introduction of the multi-asset ledger on March 1, 2020. 2.25 million of the 2.5 million native assets that have been minted thus far were Non-Fungible Tokens, NFTs.
2.58 million wallets have been created, and there are over 23.8 millions on-chain transactions.
Cardano 2021: A summary of key milestones in on-chain growth Source: Cardano Foundation
Gregaard points out that the Cardano ecosystem has become more open to on-chain adoption and utility since the launch of Alonzo Hard fork in September. He says this “brought programmability to Cardano,” which made it possible for developers to build and deploy decentralised applications (dApps) on the blockchain.
Cardano supports now decentralised financial (DeFi) which has been one of the biggest crypto developments in the past year.
Cardano partnerships in 2021
Cardano also had a breakout year in terms of the many partnerships it struck, with these collaborations and deals aimed at “creating value and utility within the Cardano ecosystem.”
Rival, fintech UBX and Save the Children, which use ADA to support humanitarian projects in East Africa, are some of the key partners. Scantrust and Baia’s Wine, which are using the Cardano blockchain for supply chain traceability applications, were the other key deals announced in the year.
Cardano market outlook 2021
Cardano’s native token ADA is trading around $1.35 to the dollar as of writing, about 2% up on the day as per data on CoinGecko. The coin’s value is over 750% up in the past year after rallying from lows of $0.30 at the beginning of 2021.
However, last week’s sell-off means ADA losses over the past month stand at -25%, while declines since hitting an all-time high of $3.09 in early September are at around 56%.
The coin’s value could yet dump as analysts see a fresh collapse for the markets in early January, although crypto analyst Michael van de Poppe says Cardano is one of those looking great for a bounce.
Beautifully following the path #Cardano.
It’s a great idea.
If you don’t feel right at the moment, it’s often the best time for you to take your position. pic.twitter.com/g3575gLELC
— Michaël van de Poppe (@CryptoMichNL) December 22, 2021