Cardano Price Forecast as 7,000,000 Native Tokens Launch on the Blockchain – ADA to $1 Soon?
ADA, the native token of the Cardano blockchain, was last trading around 1.5% higher on Wednesday according to TradingView. Cardano’s native token is higher in tandem with a broad rally across crypto markets, which comes despite a more tentative feel to broader macro trade ahead of upcoming risk events. The cryptocurrency was last changing hands in the mid-$0.31s, meaning it now trades back in the green on the week and is up a little over 6% versus the fresh annual lows it hit under $0.30 last week.
In terms of the Cardano blockchain’s underlying fundamentals, the trends remain strong. A few days ago, the number of native tokens deployed on to the world’s sixth-largest blockchain by market capitalization surpassed the 7 million mark for the first time.
https://twitter.com/cryptorecruitr/status/1596669749462986757
The rate at which new tokens are being issued on the Cardano blockchain is impressive. The blockchain only hit 6 million native tokens in September. At the current pace, Cardano should have over 10 million native tokens changing hands on its blockchain by mid-2023.
Elsewhere, according to the latest update from Cardano Blockchain Insights earlier this week, the number of smart contracts deployed on Cardano’s Plutus platform was last up 300% in 2022. 3,791 smart contracts are now deployed on Plutus versus 947 at the start of the year.
https://twitter.com/MHiesboeck/status/1597287766592626688
According to crypto GitHub development tracker @ProofofGitHub, Cardano ranked as the number one blockchain by daily development activity on 30 November, beating out the likes of Ethereum and Cosmos. Cardano consistently ranks as one of the top cryptocurrencies when it comes to development and its investors are optimistic that this
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