Cardano’s cryptocurrency ADA has experienced a boost in its price, along with other digital currencies in the market. As of the current writing, ADA has increased by almost 6% within the last 24 hours, amounting to $0.407.
Furthermore, it has gone up by 4% over the past week. According to Dan Gambardello, founder of Crypto Capital Venture, ADA’s price activity has instilled a greater sense of confidence in Cardano compared to the $3 ADA rate during the bull market’s peak.
On September 2, the ADA price surged to a high of $3.09 in anticipation of the Alonzo network upgrade, which introduced smart contract capabilities. Although ADA has since dropped 86.84% from this all-time high, the Cardano ecosystem has expanded significantly.
As of now, 122 projects have been launched, and 1,221 projects are being developed on Cardano. The network has recorded 64.2 million transactions, and there are currently 8.09 million Cardano native tokens and 71,386 minting policies.
Additionally, there are 7,597 Plutus scripts on the smart contract platform of the Cardano blockchain, which allows the creation of apps that interface with the Cardano blockchain. This growth seems to bolster Dan Gamberdello’s confidence in Cardano, which is also shared by large investors who continue accumulating cryptocurrency.
According to data from IntotheBlock, there has been a notable accumulation of ADA, the cryptocurrency associated with Cardano, by large holders, also known as Cardano whales. Over the last 14 days, these whales have acquired 560 million ADA, valued at $218.4 million.
Furthermore, on April 3, an analyst named Ali shared that Cardano whales owning 1 million to 10 million ADA had accumulated almost 150 million ADA, worth approximately $57 million, since February.
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