Cardano Developments & Updates — January 2024

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The question on everyone’s mind: Can Cardano (ADA) hit a new all-time high in 2024?

With the asset picking up in recent months after dropping to a 2023 low of $0.25 in October, it surged to $0.66 on 14 December, bringing about renewed enthusiasm for the Ethereum competitor.

Before getting too excited, we are still 6x from the asset’s ATH set over two years ago; more on this later.

Today, we will explore what’s in the works for the eighth-largest crypto asset by circulating market cap. I will also cover my thoughts about it returning above $3 per coin.

News, events and partnerships

Emurgo, one of the three key entities behind Cardano, released an eight-tweet thread outlining the major developments and events occurring in the ecosystem in 2024. Some of these include:

• The Chang Hard Fork, signalling an important step forward for governance (the Voltaire era). This is set to take place in the coming months
• Greater tokenisation on the base layer (Cardano blockchain)
• More third-party dApp development on the network