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The smart contract platform Cardano ($ADA) attracted the attention of the crypto community as they have set their strong support towards the token this month. The reason that came out is that the network has quite improved its performance after the Vasil hard fork along with its growing adoption
Cardano ($ADA) Price Estimate
The forecast made on CoinMarketCap page states that the average of around 7,100 cryptocurrency community members points to the smart contract platform’s price trading at $0.517 by the end of this month (November.) It represents nearly 22% hike from the $ADA current $0.42 level.
CoinMarketCap: Cardano to USD Chart
The current Cardano price is $0.423953 USD with a 24-hour trading volume of $585.17 Million USD. Cardano is down 0.42% in the last 24 hours, while its current CoinMarketCap ranking is #9, with a live market cap of $14.54 Billion USD.
It can be seen that the crypto community’s estimate indicates a small decline for the end of the year, with 4,700 users believing that the price of Cardano will be $0.487, which represents quite an upside from its current levels.
However, it must be noted that the cryptocurrency community’s outlook is just an analysis. While the platform’s data indicate average $ADA predictions had an accuracy near to 60% last month, but below 10% earlier this year.
Moreover, it can clearly be seen that the price of ADA in the last two or three days is performing in the green-zone which seems like investors are taking interest in this.
Additionally, some ADA related news in recent days has increased adoption of ADA, as with South Korean cryptocurrency bank Delio set to list $ADA and launched a staking service for it. FTX, a cryptocurrency exchange, is also set to list spot $ADA trading pairs according to its CEO Sam Bankman-Fried.
Cardano Foundation and Community
Cardano Foundation that supports and grows the Cardano ecosystem, earlier this month tweeted about its on-chain stats of October 2022. It represents its native tokens on went up nearly 5% to 6.62 Million, while plutus scripts grew 4.59% to 3,535. Additionally, the number of transactions conducted on Cardano hiked 4.18% to 53.3 Million, while smart contract transactions grew over 2%.
On the other hand, most recently, on November 06, 2022, Cardano Ambassador, Pete, shared a tweet, in which he shared his presentation from his Sydney’s Cardano meetup on 02 November 2022. He kept his broad overview presentation for beginners on Cadano.
Cardano Foundation further released its agenda that includes the incredible line-up of speakers that will present during the Cardano Summit 2022.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
