Why Ada Is Stuck at $0.45 Despite Cardano Extensions
Journalist
- Cardano development increased after new projects were launched.
- ADA’s slight increase helped boost the profit supply to 18.88 billion.
Five projects were launched on Cardano in April. [ADA] InputOutput, blockchain, revealed in a tweet on X (formerly Twitter).
According to the blockchain’s R&D arm, some scripts were deployed. However, others were working on token deployment, while others released new versions to improve transactions on their network.
This post revealed that.
The number of token policies has increased by 3,875 while the number of native tokens has increased by 100,000. Plutus scripts increased by 2,656 to a total of 42,703. “The total number of transactions increased by 1.6 million in the last month.”
There are eight more to come
InputOutput also noted that eight more projects will be launched in the next few weeks. Cardano publishes a weekly update of its ecosystem.
AskFX has found that the project remains committed to its efforts to improve its network. This is also one of the main reasons why its development activity has outperformed others.
The development activity metric started to decline, suggesting that Cardano was slowing down the number of features released.
However, at the time of publication, data from Santiment showed an improvement. This increase was proof that the upgrade efforts are taking effect this week.
Source: Santiment
Cardano, Cardano’s native token, was unable to capitalize on this success. At the time of publication, ADA was trading at $0.46. This price represented a slight increase of 1.41% over the past 24 hours.
ADA managed to avoid a significant price increase, but continued trends like the ones mentioned above could change pricing for the better.
This could have a positive impact on other aspects of the Cardano ecosystem.
ADA’s profit is increasing, but there is still room for improvement.
The gains could impact the total supply. Of the 38.84 trillion tokens in circulation, 18.88 billion represented gains.
If the token price reaches $0.50 again, the number could reach or exceed 20 billion. AskFX has reported that Cardano’s 2019 performance could repeat itself.
If the predicted increase comes to pass, the token may be able to maintain its top 10 spot. If it doesn’t, the token could lose its 10th place by market cap that it held at press time.
Source: Santiment
Read Cardano’s [ADA] Price Predictions 2024-2025
Santiment’s current weighted sentiment for Cardano is 0.16. Positive values for the weighted sentiment indicate that the market is optimistic about the project.
Cardano would have been viewed negatively if the value was negative. This analysis suggests that ADA could stall for a while. When (if) the rally breaks out, it could be amazing.
