According to the reports from the best site to follow cryptocurrency, the co-founder of the Cardano blockchain Charles Hoskinson has admitted to something that he predicted about two years ago regarding the platform of Cardano. Since the crypto market is a pretty volatile one, the performance of a cryptocurrency is pretty impossible to be predicted properly.
However, there are some experts who try and make accurate predictions about the different cryptocurrencies. Apparently, Charles Hoskinson, the co-founder of Cardano also made a prediction about the platform of Cardano about 2 years back and the prediction is yet to be completely realized. However, there have been some changes in the ecosystem of Cardano in this particular year for sure.
Charles Hokinson’s Prediction About Cardano Hasn’t Come True Yet
Hoskinson made a bold prediction about Cardano two years ago that has yet to be fully realized, although the ecosystem has been on the up throughout 2022. Co-founder of Cardano blockchain Charles Hoskinson has cheekily admitted that his July 2020 forecast of the number of decentralized applications (DApps) coming to the blockchain has not yet come to fruition.
Referring to his famed July 2020 tweet, Hoskinson tweeted on Wednesday: “Remember when I predicted thousands of assets and DApps on Cardano? Well, I was wrong, there are now millions of native assets issued and DApps are now in the hundreds. #SlowAndSteady.” However, he may have misremembered his own tweet, as he had predicted back in July 2020 that by 2021, there would be hundreds of assets and thousands of DApps on Cardano.
While the number of assets appears to have exceeded his predictions by 2022 thanks to new nonfungible token (NFT) minting protocols, the number of decentralized apps running on the network isn‘t so impressive.
The decentralized finance (DeFi) analytics platform DefiLlama tracks just seven DApps running on Cardano and a total of $315.72 million in total value locked (TVL), excluding staked governance tokens. Two of those DApps have $0 TVL outside of governance tokens.
Hoskinson believes that developers are waiting for the deployment of the Vasil hard fork upgrade on Cardano scheduled, for this June, to launch their projects. According to the leading Cardano ecosystem tracker Cardano Cube, there are 579 DApps in various stages of development.
While the data contradicts some of Hoskinson’s loftier predictions from 2020, it does confirm that Cardano’s ecosystem has been on a steady rise throughout 2022 so far. The Jan. 21 launch of the SundaeSwap decentralized exchange (DEX) helped spark a big increase in total value locked.
Leading up to the launch, Cardano TVL shot up more than 24 times from $3 million to $87.7 in a single day from Jan. 20-21, according to DefiLlama.
TVL of Cardano has Been Climbing Pretty High Throughout the Entire Year
The ecosystem of Cardano has definitely been climbing high for the past year. This also includes the value of different staked tokens for sure. The TVL of the ecosystem of Cardano currency sits at an ATH of $315.7 million in total, which is pretty high for sure.
Minswap DEX led all other DApps with $195.2 million. That makes Cardano the 25th-largest blockchain network by TVL. If counting the value of staked governance tokens, Cardano‘s TVL is about $421.5 million.
In spite of having such high growth in the ecosystem, Cardano’s TVL still isn’t that big when compared to the layer-1 competitors that it has such as Solana and Ethereum. These two cryptocurrencies have managed to pale the TVL of Cardano for sure due to their services and benefits of dApps.
The two chains command a massive $137.3 billion and $7.2 billion respectively, according to reports from the best site to follow cryptocurrency.
Also Read: Charles Hoskinson Expects Cardano to Perform at the Same Level as Solana by the End of the Year
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