Crypto News: Cardano is growing – is the price exploding now?

The IS Cardano user activity recorded new records and many analysts see bullish prospects for competitor Ethereum. Developers are also becoming more active on Cardano, which reflects the current ranking.

Cardano (ADA) has established itself as one of the most promising cryptocurrencies established. The decentralized platform is built on the innovative Proof-of-Stake technology, just like Ethereum.

Daily GitHub Development Activity:

#1: 891 Polkadot / Kusama
#2: 762 internet computers
#3: 730 Friends
#4: 538 Cosmic
#5: 452 Hedera
#6: 449 Ethereum
#7: 389 states
#8: 370 Decentraland
#9: 349 ChainLink
#10: 326 MultiverseX pic.twitter.com/1EaOH3EInA

— ProofofGitHub (@ProofofGitHub) April 25, 2023

the total value of the properties contained in the Cardanonetwork from nearly $48 million to over $170 million this year increase 250%.

Cardano also suffered a bit due to the recent weakening of the crypto market, but it is still showing very positive trends. If the crypto market rises more significantly again, perhaps attracted by Bitcoin, Cardano also benefitsbecause the project is running very successfully.

The project was created by a A team of engineers, mathematicians and cryptography experts developed based on academic research to create a solid and secure platform. This scientific basis ensures long-term stability and reliability.

Cardano is currently developing positively: Can ADA manage the 100% price increase this year?

The forecasts for Cardano and the $ADA token are pretty good right now. Of course, there is the risk of a correction. Since the lowest price was EUR 0.22 in December 2022, the price was now EUR 0.36 and therefore possible almost double in a few months.

The total value locked up in the Cardano ($ADA) network’s decentralized finance (DeFi) ecosystem is up more than 250% year to date, from about $48 million at the start of the year to over $170 million now .

World Mobile Token, Minswap, WingRiders and Indigo are based on Cardano

Cardano benefits, among other things, from success World Mobile Signal ($WMT)which is built on the Cardano blockchain and currently has a Total value around $16 million yes.

According to different dates also runs Minswap ($MIN) good. This project also uses the Cardano blockchain. The IS decentralized crypto exchange present value is slightly below $60 million with the signs blocked.

Other projects that rely on Cardano and give the blockchain a value of almost 20-30 million US dollars are I.ndigo, WingRiders, Djed and the foreign platform Liquid.

More and more projects are dependent on the competitor for their value Ethereum. Almost 1,230 projects now rely on Cardano and the smart contracts in the blockchain. The transactions are also increasing significantly and are now reaching the 70 million mark.

Cardano offers high scalability, which allows Thousands of transactions per secondto process. This is due to its unique layer architecture that enables transactions to be processed efficiently, quickly and cost-effectively. So Cardano can be easily used even when demand and usage is increasing scale.

Cardano can compete with Ethereum even more than before

Therefore Cardano is enough Ethereum’s powerful competitor and can he second largest blockchain currency definitely take on one or the other new project.

MASSIVE #NFT a project that partnered with 200 industry giants MOVES from Ethereum to #Cardano because of SUPERIOR TECH 🤯 #Cardano your welcome #Snowmantastic as the latest NFT project to be transferred from the #Ethereum network to the #Cardano network 🚀 ~Silence The Noise🤫 pic.twitter.com/kgeAeTsMW3

— Marcosantiago (@marcosantiagoNY) April 25, 2023

So new cryptocurrencies can be based on Cardano in the near future, not just on Ethereum. The Cardano platform is designed to work with other blockchain networks and make existing financial systems work together. Cardano does that particularly attractive to companies and developerswho want to build their projects on an interoperable and future-proof platform.

The native token $ADA is approaching prices and technical indicators suggest that the price may continue higher. The price may quickly approach $0.60 and higher.

Overall, Cardano’s current benefits, such as sustainability, scientific approach, scalability, interoperability, and a growing ecosystem, provide solid reasons why ADA could represent an attractive investment. Investors who are interested in cryptocurrencies and believe in Cardano’s long-term success should consider adding ADA to their portfolio.

Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.