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HomeCrypto AnalysisCardano makes significant progress in the field of blockchain technology

Cardano makes significant progress in the field of blockchain technology

Cardano (ADA), the seventh-largest digital currency by market capitalization, has made significant progress in the field of decentralized technology by adding over 1,000 Plutus V1 smart contracts to its network since the beginning of 2023.

According to data collected on May 17, 2023, there have been 5,776 Plutus V1 scripts registered compared to 4,718 V1 scripts on January 1, according to data compiled from Cardano Blockchain Insights.

This significant achievement has solidified Cardano’s position as a prominent player in the decentralized finance (DeFi) space. It is worth noting that all the features and functionalities of Plutus V1 have been incorporated into Plutus V2. Notably, the number of Plutus V2 scripts stands at 2,494 at the time of publication.

Cardano Price Analysis

Cardano continues to demonstrate its resilience in the volatile digital market. With its recent performance, it has caught the attention of investors and the broader cryptocurrency community, trading at a value of $0.3763, indicating a 2.35% increase in its value in a day and a notable 5.23% increase in its value over the week.

Currently, Cardano has a support level at $0.35245 in the market. On the other hand, ADA faces a resistance level at $0.40048.

These upward trends reflect the growing confidence and interest in Cardano from investors and the broader cryptocurrency community in terms of daily transaction volumes across all blockchain networks, as reported by Finbold last week. Currently, Cardano’s market capitalization stands at $13.1 billion, reaffirming its position as one of the top ten digital currencies by market value.



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