Logo
Cardano Ecosystem

Finbold

03/20/2024

·

135 views


Cardano adds 40,000 smart contracts in 2024

With the larger part of the cryptocurrency market getting a breather after a bearish period that followed exceptional price increases, Cardano (ADA) is recording growth in other areas, particularly the number...

Cardano adds 40,000 smart contracts in 2024

With the larger part of the cryptocurrency market getting a breather after a bearish period that followed exceptional price increases, Cardano (ADA) is recording growth in other areas, particularly the number of smart contracts on its network since the year’s turn.

As it happens, the number of Plutus scripts on the Cardano network, including Plutus V1 and Plutus V2, has reached the figure of 39,032 on March 19, which is an impressive feat and a 171.45% increase, considering that the number of Cardano smart contracts on January 1 stood at 14,379.

Cardano smart contracts growth
Cardano smart contracts growth. Source: Cardano Blockchain Insights

Specifically, these figures account for Plutus V1 scripts currently amounting to 6,439 (an increase of 2.27% from the 6,296 on January 1) and the number of Plutus V2 scripts standing at 32,593 (an increase of 303.23% from 8,083), as per the data retrieved on March 20.

Picks for you

This also means that the Cardano ecosystem has been growing at the rate of about 495 new smart contracts each day, adding about 82 Plutus V1 scripts every day, and 413 Plutus V2 scripts per day, as the Cardano Blockchain Insights charts demonstrate.

Cardano price analysis

Meanwhile, the Cardano price at press time stood at $0.60711, which suggests a decrease of 0.73% on the day, an 18.01% drop across the previous seven days, and an accumulated loss of 2.18% on its monthly chart, according to the most recent information.

Cardano price 30-day chart
Cardano price 30-day chart. Source: Finbold

It is also worth noting that crypto trading expert Ali Martinez recently highlighted that Cardano was imitating its 2018-2021 pattern, which suggests a consolidation in the $0.55-$0.80 range, followed by a surge to $1.70, another period of further consolidation, and a breakout to $5.

Cardano price action analysis
Cardano price action analysis. Source: Ali Martinez

Cardano price prediction

Elsewhere, several finance experts have predicted that the eighth-largest crypto asset by market capitalization could continue to grow its price in 2024, with their predictions ranging between $0.945 at the lower end and a very optimistic $11 by the end of 2024.

At the same time, artificial intelligence (AI) and machine learning platforms have set the Cardano price prediction targets between $1.26 at their most pessimistic and $8 according to their most bullish forecasts, as Finbold reported earlier on March 20.

All things considered, the token’s ecosystem has witnessed substantial growth that could create positive sentiment around it and push its price upward. However, things in this sector can change on a whim, so keeping up with the Cardano news and doing one’s own research is crucial.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

AD

Cardano Catalyst Project - Discover and Vote for our proposals in Fund 13 by December 12, 2024 11:00 UTC

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Cast your vote today, find our proposals by searching "CardanoFeed" in the Voting App.Vote for Us


Read Original Article on Finbold

ORIGINAL SOURCE

https://finbold.com/cardano-adds-40000-s...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from Finbold

See more
Next Year’s Big Winners? Crypto Expert Predicts 5,000% Growth for These 3 Altcoins!
Finbold
Next Year’s Big Winners? Crypto Expert Predicts 5,000% Growth for These 3 Altcoins!

last Monday at 3:56 PM

·

7 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)