Over the last week, Cardano has surged more than 28% showing strong movement towards the north. ADA is currently trading at $1.10 with an increase of 14% in the last 24hrs.
On the weekly chart, Cardano has bagged the best performing cryptocurrency in the top 10 list.
Reason For ADA Price Rally !
As per the on-chain data provider Santiment, the recent price rally is due to decreased selling of ADA by a whale. The report says “ Now +26% in the past week, whale transactions are something to keep an eye on. Spikes of $100k+ $ADA transactions consistently signal price reversals.”
Another development that has fueled the price is the recent upgrade on the Cardano network that increases Plutus per block script memory units to 62 million. Plutus is the smart contract platform on Cardano’s blockchain network.
“ I was wrong about dApps & native assets performance on the network.“
Charles Hoskinson recollects the saying “Slow & steady leads towards winning,” as he agrees that he was wrong with his prediction about how many dApps & native assets would host.
In the year 2020, Hoskinson was of the opinion that in 2021, the Cardano ecosystem would host hundreds of assets, thousands of dApps, and tons of interesting projects.
But today as there are millions of native assets & hundreds of dApps, he claims that he was wrong with his prediction back in 2020.
The IOG dashboard’s data display shows that the Cardano blockchain has now seen the minting of over 4 million NFTs, with around 50,000 distinct minting policies.
Since 2020, with the launch of several functional dApps in the form of NFT marketplaces, DEXs & utility platforms, Cardano has come a long way.
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Source: https://coinpedia.org/altcoin/will-cardano-price-hit-ath-in-coming-days/