Cardano ADA/USD is a proof-of-stake blockchain platform and open-source project founded back in 2017 that has climbed up the ladder and is currently ranked as the third-largest cryptocurrency token in market capitalization.
As such, it is no wonder that it has numerous developments set to occur in the near future, so let’s dive into them and see if the ADA token is worth buying.
Cardano’s future developments as catalysts for growth
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The software development company COTI announced the issuance of the first stablecoin designed to run on Cardano.
Djed is based on an algorithmic design that leverages smart contracts to ensure price stability.
Smart contract programming is also used to ensure that the stablecoin will work efficiently for decentralized finance (DeFi) transactions.
The COTI team believes that stablecoins will be adopted by a number of cryptocurrency users to settle payments and cover fees. The company is also one of the first to receive an equity investment from the cFund for Cardano Developers.
We can also expect AI to come to Cardano through Grace, an AI robot specifically developed by Awakening Health, a joint venture between Hanson Robotics and SingularityNET.
The main reason Cardano was chosen was to meet guidelines set out by the Health Insurance Portability and Accountability Act (HIPAA) and the General Data Protection Regulation (GDPR) framework.
This AI has been designed to interact with the elderly as well as other workers who have been isolated.
The Cardano blockchain improves Grace’s performance and leads to lower, predictable, and stable costs while also solving scalability challenges.
Then we had the Cardano Summit 2021, where a hundred avatars representing ADA Fans from across the globe got together to watch Charles Hoskinson explain the future of Cardano.
Hoskinson announced that a decentralized application store for Cardano apps is coming. In the keynote speech, he also announced that Dish and Input Output have entered into a strategic partnership and that IOHK will make products with them.
Should you buy Cardano (ADA)?
On September 27, Cardano (ADA) had a value of $2.22.
The all-time high value of the ADA token was on September 2, where the token had a value of $3.09. Here, we can see that it is $0.87 higher in value at its all-time high-value point or 39% higher in value.
When it comes to its lowest point of value in August, the ADA token was $1.27 on August 3.
It reached its highest point of value of the month on August 23 where the token had a value of $2.95.
Here we can see that the token increased by $1.68 throughout the month or by 132%.
With all of this in mind, we can expect the token to increase in value to $2.80 by the end of October.
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