5 months ago 2 min read

Cryptosiasts View Cardano ($ADA) Price Spike to 27% by the End of November


This month, the cryptocurrency community has set an optimistic price objective for the Cardano ($ADA) smart contract platform, probably in light of the network's enhanced functionality following the Vasil hard fork and its expanding user base.

According to predictions published on CoinMarketCap's sites, an average of almost 7,100 members of the cryptocurrency community predict that the price of the smart contract platform will trade at $0.517 by the end of November, a gain of 27.7% from the current level of $0.40 for $ADA.

Source: CoinMarketCap

Estimates indicate a little fall by the end of the year, with 4,700 users projecting a $0.487 price for Cardano, an increase of just over 20% from present levels.

It's critical to note that the predictions made by the bitcoin community may not be realized at all. According to platform data, its average $ADA predictions were accurate last month to a degree of almost 60%, compared to less than 10% earlier this year.

The South Korean cryptocurrency bank Delio is planning to list $ADA and introduce a staking service for it, suggesting that the cryptocurrency community's prognosis accounts for growing ADA usage. Sam Bankman-Fried, the CEO of crypto exchange FTX, said that the exchange will list spot $ADA trading pairs.

The network's on-chain statistics for October were recently published by the Cardano Foundation. They showed that native tokens on Cardano increased by over 5% to 6.62 million, while plutus scripts increased by 4.59% to 3,535. Notably, Cardano transactions increased by 4.18% to 53.3 million, and smart contract transactions increased by over 2%.

Popular cryptocurrency trader and market researcher Michal van de Poppe provided the "ultimate area" to buy Cardano's $ADA native token last month after the network underwent the much-anticipated Vasil hard fork. Cardano is a platform for smart contracts.

According to the expert, it "seems like we're accumulating" according to Cardano's chart, and the "ultimate location to purchase from is the region at $0.30-0.375."

Data indicates that Cardano popularity has been gradually expanding and that the total number of $ADA wallets topped the 3.5 million mark in August, prior to the Vasil hard fork, which introduced substantial performance enhancements.

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