Cardano, a leading blockchain project, recently achieved an impressive transaction milestone thanks to its Hydra protocol. This puts Cardano ahead of its competitors and highlights its potential against traditional financial systems like Visa.
A New Era for Cardano
Cardano founder Charles Hoskinson noted that IOHK's plan is to establish the network as an economic, political, and social pillar. Thanks to the Hydra protocol, Cardano achieved 15.5 billion transactions in one day, surpassing Visa's capacity which handles about 65,000 transaction messages per second.
Basho Upgrade and Its Impact
Cardano is gearing up for its next major upgrade called Basho. This fourth phase of network development will significantly enhance its performance, making it faster than Sui and Solana. Hoskinson stated that the upgrade will focus on network optimization and scaling essential for future institutional adoption and real-world utility.
ADA Price Analysis
ADA's price recently traded at $0.708, a 46.41% discount from its December peak. Current support is near $0.68, indicating potential for maintaining its position. Despite optimism due to transaction capabilities, ADA demand remains weak in the spot and derivatives market segments, reflecting prevailing market conditions. February's rally was driven by expectations of Cardano becoming a US crypto reserve asset.
Cardano continues to demonstrate significant improvements in its transaction capabilities, confirming its readiness for global adoption. However, market conditions still influence ADA prices despite technological advancements.
