$ADA: Number of Smart Contracts Deployed on Cardano Surpasses 5,000 As Network Grows

The number of smart contracts deployed on the cardano network ($ada) exceeded the five thousand mark for the first time as the network is growing steadily and the market for cryptocurrencies is recovering.

According to data from Cardano Blockchain Insights, as Finbold , there were around 4,000 smart contracts on Cardano in early December, and the number has surged to surpass 5,000 at the time of writing.

Plutus, it should be noted, is the "intelligent contract platform of the Cardano blockchain" which enables users to "write applications that interact with the Cardano blockchain."

The number of smart contracts on Cardano surpassed 1,000 back in January of this year after the price of ADA exploded last year with the rollout of the widely anticipated Alonzo hard fork, which brought smart contracts into the network, allowing it to compete with other blockchains such as the BNB Chain ($BNB), Ethereum ($ETH), and Solana ($SOL).

As CryptoGlobe reported, Cardano surpassed the 3,000 smart contract mark in August of last year, after adding around 100 smart contracts in a month at the time. In particular, the cardano foundation recently revealed that in January the network continued to grow, with more than 60.2 million registered transactions and more than 7.66 million native tokens deployed.

As CryptoGlobe reported, the cryptocurrency community has set a bullish price target for smart contract platform Cardano this month, with the average of nearly 1,800 cryptocurrency community members pointing to the smart contract platform’s price trading at $0.45 by the end of February, representing a near 15% rise from $ADA’s current $0.38 level.

The cryptocurrency community appears to be becoming weaker on the cryptocurrency over time, The year-end forecast is $0.3, The smart contract platform grew by more than 12%.

It is important to note that the predictions of the cryptocurrency community may not come to fruition at all. Platform-dependent, the historical precision of the community is slightly more than 48%, Based on recent data, it was around 60 per cent in September and October 2022, reaching 6.8 per cent in December. In January it surged to over 80%

Notably, the community’s price target for January represented a 94.6% rise for $ADA, which was then trading at $0.254 and was expected to rise to $0.495.