Are we out of the woods yet?

Not really sure what you mean by this, sorry. Do you mean, like reasons for the value of ADA growing? If so then it’s the same as with ETH, but with stake and treasury added. So, as far as I understand it, main uses for ADA coin on the Cardano platform:

  1. Stake - many coins gotta be locked out of circulation in exchange for profit.
  2. GAS - companies have to buy ADA in order to launch their code on the CL
  3. Treasury - 20-25% of all block-rewards will be automatically locked in the treasury and will be used to hire contractor developers by community. I think it brings a lot of value.
  4. Base-currency at decentralised exchange - anyone who want to exchange some token\coin X for some token\coin Y will have to move it thru ADA and to pay fees in ADA for it.

I might have forgot some other uses, tho. Will be glad if someone adds to it.

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