BlocksInform
The cryptocurrency community has set a bullish price target for the cardano ($ada) intelligent contract platform this month, likely in light of the increasing adoption of the network.
As estimated in the coinmarketcap, the average of almost 3,400 members of the cryptocurrency community indicates the price of the smart business platform at $0.495 at the end of January, representing an increase of 94.6 per cent over the current level of $0.254.
The cryptocurrency community appears to be becoming weaker on the cryptocurrency over time, with a projected budget of $0.3 by the end of May, representing a more than 20% increase in the Smart Deal platform.
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 41%, Based on recent data, it was around 60 per cent in September and October 2022, reaching 6.8 per cent in December.
As CryptoGlobe reported, $ADA could be “severely undervalued,” as on-chain analysis suggests there is a bullish outlook for the cryptocurrency that could see its price rise.
That's what the chain analysis company is talking about, which found in its analysis that $ada hark and whale addresses – these assets between 100,000 and 10 million tokens – have been aggressively accumulated over the past six weeks, whereas the price of the cryptocurrency continues to decrease.
In its latest Asset Report, CryptoCompare revealed that following the collapse of FTX there was a rising trend in users moving their assets off of centralized cryptocurrency platforms and moving them to decentralized solutions and self-custody.
The movement, cryptocompare writes, has led to an average peak of everyday active users on the intelligent contract platform. In total, Cardano’s daily active users rose 15.6% to 75,800 last month, the highest number recorded since May.
Likewise, monthly cardano network transactions also increased by 5.34% to $2.32 million last month, the highest volume since April.
The Santiment analyst observed this when he was looking at the gains and losses achieved, There's evidence that the sales people are running out, as about "each significant price decrease, less and less parts are sold at a loss."
