By Larry Wright
Cardano has the strongest rally when it comes to the bullish cycle as many new investors have begun investing their money into the platform. All of this has been made possible because of the recent update that Cardano was able to pull making it a proof of stake platform rather than a proof of work one. This was a rather complicated transition but all went according to plan and now the brief future of the platform looks sustainable and promising.
But there is a void in the crypto market that is being governed by the overstaying bearish market that doesn’t seem to be subsiding anytime soon.
The Vasil hard fork upgrade did provide Cardano access to a few restricted strings of the crypto market and it was able to pull on these for a while generating a handsome return on the investment while also bulking up its staking percentage.
Stakers are the new miners that have taken over the platform to aid in the verification and authentication of the transactions taking place on the network and to make sure that the overall working of the platform is in harmony.
Staking Progress
Sadly despite the increase in the staking volume by a whopping 30%, Cardano is still not able to make a handsome return on its staking activity. Part of the reason is why the general depreciation that has engulfed the crypto market.
Whenever there is a change in the synergy of the prices or there is random volatility striking across the horizon the profit margins are reduced in half.
And despite earning a steady stream of cryptocurrency the fiat value for the earned profit continues to decrease and that is a solid pitfall that seems to be pertinent for not only Cardano but various other cryptocurrencies at the moment.
It is not like there aren’t any more sales taking place on the platform but the volatility aspect of the crypto market is so strong that it doesn’t allow the profits to catch up with the expected numbers.