Bullish for Cardano: Bloomberg terminal picks up top performer ADA.
The Bloomberg terminal has added Cardano (ADA), exposing the asset to numerous professional investors.
The news is a major endorsement for the Ethereum competitor. Twitter users posted screenshots of the Cardano recording on March 15.
The image includes a brief explanation of what Cardano is and how it works.
The Bloomberg terminal by Crypto Bull is used by professional traders and costs around $24,000 per year. It is a significant tool – and will likely grant Cardano a lot of exposure.
Founder Charles Hoskinson even commented that it is now „recognised at airports.“
Cardano’s next upgrade will introduce smart contracts
Cardano’s technical architecture is different from other blockchain networks. Currently, the project is in a gradual upgrade process, currently in the Goguen phase, which is due to be released soon.
The project launched its Shelley upgrade last year, which brought greater decentralisation to the network. Upcoming phases will address smart contract improvements, scaling solutions and governance mechanisms.
A roadmap for Cardano
However, there is some scepticism about the popularity of Cardano (to buy Cardano guide). The network has no popular applications, which has led some investors to question why it was valued so highly in the first place.
ADA has been one of the best performers in the current bull market. Currently, ADA is sixth in terms of market capitalisation, but it has tended to be mostly third in the last couple of weeks.
Prices have fallen slightly in the last 24 hours, but are still well above pre-2021 levels.
Cardano’s market value has been boosted by the sudden surge in interest (Cardano exceeds 500k accounts!). Mike Novogratz, CEO of Galaxy Digital, also inquired about the network and its applications.
The asset was back in the headlines when Binance announced it would support Cardano’s Mary Hard fork and upgrade.
Goguen upgrade to come soon
ADA has a chance to rise in value even further with the imminent arrival of the Goguen upgrade. This will bring smart contracts to the network, which should greatly increase its application potential.
The Goguen upgrade was preceded by Mary, which launched on 1 March. With native tokens and multi-asset support, the upgrade will enable developers to build a decentralised economy on the network.
Such developments have spurred big firms to invest in the asset. Dubai-based FD7 Ventures recently provided $250 million to fund companies building solutions on Cardano and Polkadot.