At press time, Cardano (ADA) was displaying indications of independence from the larger cryptocurrency market, underscoring its strength as a stand-alone commodity. This distance from other well-known cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) is evidence of ADA’s distinct price trajectory and long-lasting rise, which has lasted for more than a month.
Read Cardano’s (ADA) Price Prediction 2023-24
Notably, Cardano’s price has increased by over 10% in the last two days alone, further establishing it as a standout commodity in the cryptocurrency sector. This decoupling marks an important turning point in the development of the Cardano ecosystem and the increasing investor trust in its utility and long-term potential.
Cardano’s decoupling is not a transient occurrence, according to data from Santiment. In the last five months, large ADA holders with 10,000 or more coins have accumulated a total of 1.03 billion coins, representing a 3.3% increase in their holdings.
Source: TradingView
Cardano is betting on increased network development to overtake entities such as Ethereum. The Valentine (SECP) improvement, which promised to strengthen security and interoperability features on the blockchain, is one of the most recent upgrades predicted to trigger a price surge.
Other significant network operations include the continued expansion of the smart contracts’ capability, with the number of Plutus scripts approaching the 6,000 mark. Cardano blockchain transactions have also crossed the 61.4 million milestone.
Previously, the Vasil update was released, named after a notable Cardano community member. was designed to improve the ecosystem’s efficiency and block delay speeds. In terms of node compliance and exchange
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