Analysts expect a bull run for Cardano (ADA), as the network processed 4 million+ transactions in the last two months
Cardano network is continuously increasing its ability & popularity to push the adoption of blockchain network at the big commercial level and this fact is attracting long term crypto investors.
Cardano is a popular Proof-of-stake (PoS) crypto network, which was founded by Charles Hoskinson. Hoskinson is also known for his contribution to the Ethereum crypto project. After leaving the Ethereum project, he started working on the Cardano blockchain. He introduced Cardano in 2017 as a commercial crypto network, unlike Ethereum which is a public blockchain network.
As per available on-chain data records, the Cardano network processed nearly 4 million transactions in the last two months (from Dec 2023 to Jan 2024).
Surging on-chain activities under the ecosystem of the Cardano blockchain is proof that the adoption of the Cardano blockchain is constantly increasing for real-world blockchain applications.
In the last two months, Eight new projects launched on Cardano & 17 projects enter in the development phase.
So far to date, 157 crypto projects launched on Cardano and 1,320 are in progress, which is a very big indication that Cardano’s ecosystem is going through a better level of diversified adoption.
Also, we can see that Cardano blockchain smart contract protocol Plutus scripts saw substantial growth, with both V1 and V2 scripts experiencing significant increases.
Crypto downfall & Cardano adoption
The cryptocurrency sector faced a very bad shockwave between May 2022 to March 2023, in which multiple crypto companies & crypto assets collapsed because of their bad business model.
From the middle of 2023, a better level of pump in the trade price of flagship crypto assets took place. In particular, Cardano’s native token ADA saw significant improvement over other top flagship assets, thanks to the constant development works in Cardano.
From the beginning the Cardano founder Hoskinson always supported innovative development works, instead following market hype.
Cardano price
The current trade price of ADA coin is $0.5 & this trade price is 42% high over the last 3 months.
Read also: Two high-ranking US officials were operating illegal crypto mining farm on school premisesd
