Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
At press time, Cardano (ADA) seemed to be moving independent of the larger cryptocurrency market, underscoring its strength as a stand-alone commodity. This distance from other well-known cryptos like Bitcoin (BTC) and Ethereum (ETH) is evidence of ADA’s distinct price trajectory and sustainable growth, with the same now lasting for more than a month.
Read Cardano’s (ADA) Price Prediction 2023-24
Notably, Cardano’s price has increased by over 7% in the past week alone, further establishing it as a standout commodity in the cryptocurrency sector. This decoupling marks an important turning point in the development of the Cardano ecosystem and the increasing investor trust in its utility and long-term potential.
Cardano’s decoupling is not a transient occurrence, according to data from Santiment. In fact, in the last five months, large ADA holders with 10,000 or more coins have accumulated a total of 1.03 billion coins, representing a 3.3% hike in their holdings.
This demonstrates how swiftly Cardano’s ecosystem of applications is expanding since the platform currently counts over 1,200 projects building on its network in addition to over 110 projects that have previously been released.
Cardano is betting on increased network development to overtake entities such as Ethereum. The Valentine (SECP) improvement, which promised to strengthen security and interoperability features on the blockchain, is one of the most recent upgrades predicted to trigger a price surge.
Other significant network operations include the continued expansion of the smart contracts’
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