The crypto market has been witnessing an interesting shift from the historic ideologies. From the prominence of the market leaders to the sprawl of utility chains. Proponents from the coin market have been enticed by the shift in industry trends, which has been creating opportunities for the myriad of coins in the market’s directory.
The crypto-verse has been welcoming numerous protocols which have been evolving as a potential Ethereum killer. Cardano seems to be back in action, as the protocol has been creating a buzz on public platforms. Meanwhile, its contender Solana has been holding its prominence firm in the market, whilst hosting projects and NFTs.
Is Cardano Awake From Its Slumber?
Cardano is striding back to the limelight from its prolonged sluggish pace, which had stricken the protocol for months. In the recent interactive session, Charles Hoskinson had cited that over 175 projects are building on Cardano and about a dozen of which will be launching by the end of Q1 of 2022.
The IOHK CEO iterates on his social media handle to bust the myth-making rounds on public platforms that all 178 projects will be launching in the first quarter. Hoskinson shares a picture that illustrates the timeline of events. The picture illustrates that 13 projects have been launched this quarter, and 3 are due for launch for the quarter, as of 21st December. And 11 projects are scheduled to go live in Q1 of 2022.
Cardano-built applications like Muesli Swap, and COTI have been doing seemingly well, as previously reported by CoinPedia. The team also plans to revamp the quality of dApps through certification levels. Moreover, some of the major partnerships of 2021 are Veritree, Scantrust, Save the children, amongst others.
Is Solana’s Prominence at Stake?
In the series of updates, the liquid Solana staking from Lido Finance, stSOL will be available to users through the Pyth network. Lido has been a pioneer in liquid staking with the introduction of stETH, which has garnered over $6.5 B. Off-late Lido has expanded to Solana with collections of almost $250 M.
Another update comes from Slope, which aims to become the biggest mobile gateway on Solana. The slope is home to over 300,000 active users, the integration of Moonpay has assisted accessibility of FIAT for the users.
Solana has been escalating at the NFT front, at a brisk pace. With numerous institutions considering the protocol for the NFTs and NFT platforms. The protocol has been home to a burgeoning count of NFTs, owing to the network’s fundamental perks.
Collectively, the first quarter of 2022 could bring virtues to the crypto fraternity. With numerous projects raging ahead of one another. Cardano could make a heroic comeback retrieving its due shares, as ADA price has surged a mere 869.6% YTD. In comparison with Solana’s astounding 14,493.2%. With the future in the arms of the metaverse, NFTs, gaming, and DeFi, we can expect both the protocols’ scripting history.