Since the beginning of the year, 168,034 new user wallets have appeared on the Cardano blockchain, increasing on average by 2,100 new addresses every day. The most fruitful day was February 2, 2024, when 5,414 new addresses were created in the ecosystem. The trend is proven by the growing adoption of the Proof-of-Stake (PoS) consensus algorithm.
This year, about 40,000 new smart contracts have appeared on the Cardano network, including Plutus V1 and Plutus V2 scripts. Since January 1, about 495 contracts have been created daily.
Meanwhile, in the last 24 hours, the ADA coin has increased by 1.76%, to $0.63465. Although over the week the coin rate fell by 19.86%.
Cryptocurrency analyst Ali Martinez notedthat ADA is making the same price movements as in the period from 2018 to 2021 . The expert predicts consolidation of the coin in the range of $0.55-$0.80 with a subsequent increase to $1.7. In the future, a correction will inevitably follow, but it will precede the coin’s breakthrough to $5, the analyst believes.
In February, the total number of addresses on the Cardano network exceeded 3 million, an increase of 500,000 in less than 45 days. A few months ago, the Cardano team announced plans to carry out a large-scale hard fork of Chang, which, according to the developers, will improve the decentralized management of the project.