Wed. Apr 17th, 2024

According to data from the analysis platform Santiment, Cardano has become the blockchain with the highest development activity in the last 30 days, presenting a sudden rise that has surpassed other projects such as Ethereum or Polkadot, 2 of the most popular networks today. According to data from the Santiment tracking platform, the Cardano network has more than 570 projects built in the last month, showing a growth percentage of 18% more than its close rival, Polkadot and up to 35% of one of the most important blockchains today such as Ethereum, although the latter leads daily development activity with the Cosmos network.

Expectations in the price of ADA.

Although the Cardano blockchain has shown exponential growth in recent months, it is important to note that the price of its native cryptocurrency (ADA) has not reacted positively to the increase in development activities, due to the fact that in recent weeks the price of (ADA) has barely presented a slight recovery despite not being greatly affected by the latest events regarding FTX. Although ADA has not reacted positively to the increasing level of development activities on the Cardano network, these activities can be another impetus for future successes in the market. Even so, in a bearish period like the current one, the price of ADA does not matter much. What matters in this scenario is what has developed during the dip in anticipation of a future uptrend.

What is the future of Cardano?

Regardless of the developments that the Cardano ecosystem has been able to present in the last month, the current bear market has prevented (ADA) from reaching its full potential in which up to 85% loss has been observed since its high point earlier this yearsomething that has forced investors to look for other options in the short term, since it is considered unlikely that (ADA) can present significant growth in the near future.

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By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on wttspod.com for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.