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Cardano is one of the most well-known networks in the crypto space and the ADA token is among the top 10 largest digital assets in the market. Over the last couple of months, the Cardano network has gained more popularity, thanks to technological updates such as Alonzo Upgrade.
The Alonzo upgrade was finally introduced after years of research and is now anticipated to take the Cardano blockchain to the next level.
As per reports, impressive growth has already been noted for the blockchain as it has reportedly processed more than 30 million transactions.
This is an outstanding achievement and grabs the attention of a large audience. Therefore, if you are also interested in purchasing Cardano then make sure you choose one of the best crypto exchanges platforms.
On the other hand, if you want to start trading crypto you can use PrimeXBT Covesting. It allows new traders to mimic the trades of experts. Sign up with this link today.
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Details of Cardano Network’s Achievement
According to reports, the Cardano network has processed more than 30.4 million transactions, which is a major milestone for the blockchain. This increase in transactions was noted shortly after the number of smart contracts on the network exceeded 1000 for the first time.
It has also been reported that the number of daily active addresses on the network ranges from 150,000 to 200,000.
The smart contracts were brought in the Cardano network, thanks to the launch of the innovative and much-awaited Alonzo upgrade. This also significantly boosted the price of ADA.
Here is a graph by CoinMarketCap that shows the price of ADA over the last year.
The addition of smart contracts in the network made it possible to compete with blockchains such as:
There are several benefits of smart contracts, one of them being, the growth of the decentralized finance (DeFi) sector. This sector reportedly has approximately $100 million in total value locked.
An increase in the block size of the network has also been proposed by the developer of Cardano. The network load recently surged above 90%, which is why it has been proposed that the network’s block size should be increased from 72KB to 80KB (11%).
The ADA token is indeed one of the most prominent digital assets in the market and if you are interested in buying it, make sure you take a look at Cardano price prediction first.
What Should Crypto Investors Know?
Cardano (ADA) is among the top ten crypto assets in the market and has an undeniable prominence and value. It has seen quite the price movement last year and is anticipated to surge higher this year.
One of the biggest reasons why it got so much attention from crypto enthusiasts is the introduction of the Alonzo Upgrade. This upgrade is speculated to bring more growth and benefits for the blockchain in the future.
The ADA token is currently trading at $1.19 (at the time of writing) and if you are interested in buying it, make sure to choose one of the lowest fees exchanges.
If you are interested in purchasing digital assets such as Bitcoin or Ethereum, then you can click on SwissBorg or Kraken (U.S. citizens).
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