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

1 min

The number of smart contracts deployed on the Cardano (ADA) ($ADA) network has surpassed the 5,000 mark for the 1st time as the network keeps growing and the digital currency market recovers.

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

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

Plutus, it’s worth noting, is the “smart contract platform of the Cardano (ADA) blockchain” that allows users to “write applications that interact with the Cardano (ADA) blockchain.”

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

As CryptoGlobe reported,  Cardano (ADA) surpassed the 3,000 smart contract mark in August of a year ago, after adding around 100 smart contracts in a 30 days at the time. The Cardano (ADA) Foundation has it’s worth noting that recently revealed that in January the network kept on growing, with over 60.2 Million transactions recorded, and over 7.66 Million native crypto tokens deployed.

As CryptoGlobe informed, the digital currency community has set a positive  tendency price target for smart contract platform Cardano (ADA) these 30 days, with the average of nearly 1,800 digital currency community members pointing to the smart contract platform’s price currently worth $0.45 by the end of February, representing a near 15 percent boost from $ADA’s current $0.38 level.

The digital currency community seemingly becomes more bearish on the digital currency as time goes on, with estimates for the end of May being at $0.3, representing an upside of over 12 percent for the smart contract platform.

It’s critical to point out that the digital currency community’s predictions may not come to life at all. Reports by the platform, the community’s historical accuracy is of little over 48%, with recent data showing it was at around 60 percent in September and October 2022 to hit 6.8 percent in December. In January it surged to over 80%

It’s worth noting that, the community’s price target for January represented a 94.6 percent boost for $ADA, which was then currently worth $0.254 and was expected to boost to $0.495.

Image Credit

Featured Image via Pixabay


Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.