Will $ADA sustain the bullish trend? Cardano launches its first wallet platform, Lace

Analysts believe the time is ripe for Cardano to launch its wallet, Lace, with traders excited. But will crypto be able to sustain the rise?
Cardano launches its first wallet platform

When we talk about Cardano we have to remember that it is one of the most valued cryptocurrencies in the entire industry.

$ADA represents the No. 7 crypto by market cap, within Binance’s lists and is configured the token that governs the 3rd generation blockchain.

Indeed, Cardano’s goal is to be a combination of Bitcoin, Litecoin and Ethereum-a kind of ambitious project that aims to constantly evolve. Fruit of this development is certainly the new wallet platform, Lace.

This has been quite successful, pushing and supporting the cryptocurrency’s bullish trend, thanks in part to its features.

Is it worth investing in Cardano?

As we have already mentioned, it is definitely an opportunity.

Cardano’s founder, Charles Hoskinson, created the blockchain with the goal of a continuous evolution of the Web3, proposing an ambitious development for a continuously growing project.

Currently $ADA, the token that governs the network, is trading at a price of $0.47, up +28.58 percent in the past 3 months and +38.04 percent in the past month alone.

The potential of the ecosystem is many, but point to the ideal open source platform for smart contract use. The latest news concerns the network’s first wallet platform, Lace.

First wallet platform: Lace

As was intended, at a time of recovery for the cryptocurrency sector, the Cardano team has also made its move.

Input Output Hong Kong (IOHK), the parent company of the Cardano blockchain protocol (ADA), has indeed launched Lace wallet, its first wallet platform.

The first version of the new wallet called Lace 1.0 has been released on the main network to mark a whole new era of self-custody, supported by the developer IOG itself.

The wallet’s capabilities are countless, but among its main features is the ability to send and receive $ADA, as well as associated native resources.

The wallet can also help non-fungible token (NFT) transactions on the network in question, as well as assist in staking $ADA as a digital DeFi product.

Features and benefits of Lace

Lots of new features and we can’t help but see some of them.

Sending and receiving digital assets securely, or sending multiple assets to different addresses in a single transaction is now possible with Cardano’s new light wallet. This can help to greatly reduce users’ costs. Since only one transaction fee will be charged, making everything faster and easier.

Lace 1.0 does everything a wallet does and more, designed for everyone and everywhere. Inside we can find a DApp Store, a mobile app, and digital identity solutions. The first steps toward what looks like more AI development.

Lace is a light wallet. That is, an unguarded crypto wallet where users are not forced to download the entire blockchain. But where the back-end server downloads network data for the user without it exposing sensitive data (private keys) to the server. And ultimately maintaining security.

But the team has built a real platform with multiple uses. As Ethereum leverages Metamask, now Cardano will leverage Lace.

Cardano blockchain continuing to evolve

The development of the $ADA blockchain is obviously not finished.

In the fight for more robust recognition as a highly functional Layer 1 PoS (Proof of Stake) protocol, Cardano is doing all it can to establish its footprint in almost every aspect of Web3.

In addition to the launch of the Lace 1.0 portfolio on the core network, there is speculation that the protocol may focus entirely on the integration of Artificial Intelligence (AI) in today’s growing hype around the much-talked-about ChatGPT.

The protocol has reached new key milestones in the past month. As its recognition as a viable Ethereum killer is resonating in various circles. Noteworthy security, a robust ecosystem in full development, strong ties to authorities and regulators (especially Japanese), and the new wallet platform increase investor confidence.

Bullish trend: forecast Cardano in 2023

Today we are looking at a blockchain that is riding the widespread bullishness of the entire crypto industry.

$ADA continues to record positive trends, such as the one in the last week where it recorded a +16.18% performance.

A $15,726,845.636 capitalization, a limited supply of $ADA 45 billion, and noteworthy reliability make it an excellent investment for 2023.

Some traders say it may even exceed $1 by next year. But they are all a bit cautious about the 2023 trend. Onchain data show that whales are interested in Cardano, although open interest remains a bit down.

All that remains is to wait and see how this valuable network will perform.

Read also: Best crypto wallets for all investors

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