The well-established cryptocurrency project Cardano became a competitor to Ethereum after gaining the smart contract feature in 2021. It has been discussed for a long time that the native token ADA price remains low despite the progress on the platform.
However, on-chain data shows that Cardano continues to evolve, regardless of price.
Number of Smart Contracts Exceeded 5,000!
After the Vasil upgrade, which ADA developers implemented in September 2022, the number of smart contracts on the platforms continued to increase rapidly.
According to Cardano Blockchain Insights data, the number of smart contracts on the ADA network was 4,000 on the first day of December. The number of smart contracts increased by 25% in just 2 months, exceeding the 5,000 mark.
In addition to the increase in the last two months, it has been revealed that the number of smart contracts has increased by 400% in just 1 year. According to the data, there were only 1,000 contracts on 28 January 2022.
The first month of the year has been fruitful for almost all cryptocurrencies. According to month-end data, Cardano’s total market capitalization rose to $10.4 billion.
Latest ADA Price
The native cryptocurrency of the Cardano project, ADA, continues its rise that started in January with February.
$ADA It is currently trading at $0.40, up 1.25% daily. The threshold level of $0.425 for the last 9 months is critical for the coming days.
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