While much of the cryptocurrency market is taking a breather from the period of decline that followed extraordinary price increases, Cardano (ADA) has been seeing growth in other areas, particularly in the number of smart contracts on its network since the beginning of the year.
The number of Plutus scripts, including Plutus V1 and Plutus V2, on the Cardano network reached 39,032 on March 19. This is an impressive achievement considering that the number of Cardano smart contracts was 14,379 on January 1st and represents an increase of 171.45%.
Specifically, these figures show the number of Plutus V1 scripts currently at 6,439 (an increase of 2.27% from 6,296 on January 1) and the number of Plutus V2 scripts at 32,593 (up from 8,083), based on data received on March 20. explains an increase of 303.23).
This also means that the Cardano ecosystem is growing at a rate of around 495 new smart contracts every day, with around 82 Plutus V1 scripts added every day and 413 Plutus V2 scripts added per day, as Cardano Blockchain Insights charts show.
Cardano Price Analysis
Meanwhile, at the time of writing, Cardano price remained at $0.60711. This translates into a 0.73% drop on the day based on the latest information, an 18.01% drop over the previous seven days, and an accumulated loss of 2.18% on the monthly chart.
It is also worth noting that crypto expert Ali Martinez recently highlighted that Cardano is mimicking the 2018-2021 model. This suggests a consolidation in the $0.55-$0.80 range, followed by a rise to $1.70, another period of consolidation, and a breakout to $5.
Cardano Price Prediction
Elsewhere, several financial experts say it is the eighth largest by market capitalization. crypto- He predicted that the asset could continue to rise in price in 2024, with his predictions ranging from $0.945 on the low end to a very optimistic $11 by the end of 2024.
At the same time, artificial intelligence (AI) and machine learning platforms have set Cardano price prediction targets ranging from $1.26 at their most pessimistic to $8 at their most bullish.
All things considered, the token ecosystem has witnessed significant growth, which could create positive sentiment around it and push its price upwards. However, things can change in an instant in this industry. That’s why it’s so important to follow Cardano news and do your own research.
You can access current market movements here.
