The Vasil upgrade seemed like a big dud compared to the hype around the Ethereum merge.
Nevertheless, people who are bullish on ADA see a lot of potential in the emerging blockchain network as it plans to roll out new exciting features and add unique governance features in 2023 to start gaining ground on its opponents.
The market will be different when Cardano catches up
During the last two years, Cardano developers were playing second fiddle to many other layer-1 networks including Ethereum and Solana which both seemed better and faster.
However, the devs focused on creating tools allowing for better scalability and leaner development to produce a competitive network that should, in theory, be capable of hosting interesting products.
In the first quarter of 2023, Cardano will be issuing its stablecoin via EMURGO which is currently developing the new token in collaboration with the COTI.
The addition of a stablecoin that could prop up ADA is something many retail traders feel very excited about.
Another important development is the rollout of Midnight. This project is a sidechain that will be working on the zero-knowledge protection principle to bolster the security of the mainnet.
Midnight also comes with its native token Dust. Midnight was rolled out immediately after the network was upgraded during the Vasil fork.
Multiple developers received better instruments to create unique DeFi platforms and decentralized apps using scalability features introduced in the Vasil upgrade.
In 2023, multiple products will be launched on the network together with another upgrade that will add additional governance features and more.
Tables will turn in a dramatic fashion
Experts predict that new products deployed on Cardano and new features will make the network competitive and even put pressure on Ethereum. ADA may indeed be a good investment for people who are interested in crypto.
The current price of the token is $0.308 which is close to ten times less compared to its ATH. However, it may rise back to its glory and even break through the ceiling if predictions about its usability are at least partially correct.
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