Cardano (ADA) has failed to take advantage of a significant network milestone it recently achieved as the digital asset continues to struggle in pushing its price to higher levels.<\/p>\n
At the time of this writing, the cryptocurrency was changing hands at $0.3060 and has gone down by almost 3% during the last 24 hours according to data from Coingecko<\/a>.<\/p>\n This comes as a surprise as the project\u2019s blockchain is in the midst of celebrating the accomplishment of having more than 7 million native assets<\/a> that have been created on it.<\/p>\n Basing from the information shared by pool.pm, by leveraging 65,652 varying minting policies, the Cardano network is now home to 7,055,456 native tokens.<\/p>\n What makes this achievement extra special is the fact is that just last September the blockchain hit the 6 million count.<\/p>\n Nonetheless, ADA seems to have ignored this development as it hasn\u2019t responded positively in terms of spot trading price and market capitalization.<\/p>\n From a 2022 opening tally of 2,844 smart contracts<\/a>, there are now 3,791 SCs running on Cardano\u2019s Plutus platform, representing an increase of 300%.<\/p>\n This comes at a time when the network is working on an additional development that mainly focuses on improving the smart contract functionality of the blockchain.<\/p>\n Particularly, the team responsible for this network activity is paying attention to increasing script capacity and the Plutus Debugger MVP for the full implementation of the Babbage support.<\/p>\n Back in September 2022, when the Vasil hard fork upgrade<\/a> was launched by Cardano in hopes of increasing the scalability of the DeFi network, there was a significant increase in smart contracts running on the blockchain.<\/p>\n Elsewhere, the project is also witnessing impressive growth in terms of on-chain activity as evidenced by the daily address activity which has jumped over 90% at the time of this writing.<\/p>\n Moreover, the number of delegated wallet addresses for Cardano has now reached 1.23 million, although some experts believe that this surge might have been instigated by the massive sell-off prompted by the collapse of the FTX crypto exchange.<\/p>\n According to Coincodex<\/a>, over the next five days, ADA will post a slight increase in its trading price which the online crypto info aggregator predicts to be at $0.3065.<\/p>\n That however, will be followed by a more bearish forecast which sees the asset experiencing severe price dump towards the end of the year.<\/p>\n By using its technical indicators and historical price movements, Coincodex was able to arrive at the prediction that 30 days from now, the altcoin will fall all the way down to $0.2742.<\/p>\n Still, just like its fellow crypto assets, Cardano is subject to high volatility levels which means that in just a matter of a blink on an eye, it can surpass all predictions made related to its price trajectory.<\/p>\n\n ADA total market cap at $10.7 billion on the daily chart | Featured image from Latest Finance News, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Cardano (ADA) has failed to take advantage of a significant network milestone it recently achieved as the digital asset continues to struggle in pushing its price to higher levels.<\/p>\n At the time of this writing, the cryptocurrency was changing hands at $0.3060 and has gone down by almost 3% during the last 24 hours according to data from Coingecko<\/a>.<\/p>\n This comes as a surprise as the project\u2019s blockchain is in the midst of celebrating the accomplishment of having more than 7 million native assets<\/a> that have been created on it.<\/p>\n Basing from the information shared by pool.pm, by leveraging 65,652 varying minting policies, the Cardano network is now home to 7,055,456 native tokens.<\/p>\n What makes this achievement extra special is the fact is that just last September the blockchain hit the 6 million count.<\/p>\n Nonetheless, ADA seems to have ignored this development as it hasn\u2019t responded positively in terms of spot trading price and market capitalization.<\/p>\n From a 2022 opening tally of 2,844 smart contracts<\/a>, there are now 3,791 SCs running on Cardano\u2019s Plutus platform, representing an increase of 300%.<\/p>\n This comes at a time when the network is working on an additional development that mainly focuses on improving the smart contract functionality of the blockchain.<\/p>\n Particularly, the team responsible for this network activity is paying attention to increasing script capacity and the Plutus Debugger MVP for the full implementation of the Babbage support.<\/p>\n Back in September 2022, when the Vasil hard fork upgrade<\/a> was launched by Cardano in hopes of increasing the scalability of the DeFi network, there was a significant increase in smart contracts running on the blockchain.<\/p>\n Elsewhere, the project is also witnessing impressive growth in terms of on-chain activity as evidenced by the daily address activity which has jumped over 90% at the time of this writing.<\/p>\n Moreover, the number of delegated wallet addresses for Cardano has now reached 1.23 million, although some experts believe that this surge might have been instigated by the massive sell-off prompted by the collapse of the FTX crypto exchange.<\/p>\nSmart Contracts In Cardano Network Continue To Grow<\/h2>\n
December Not Looking Good For ADA?<\/h2>\n
Smart Contracts In Cardano Network Continue To Grow<\/h2>\n
December Not Looking Good For ADA?<\/h2>\n