Can Cardano’s Smart Contract Functionality Change The Fate Of ADA?

ByTroy Morris

Jun 12, 2021

Tokens that are linked with expansion and smart contract platforms have distinctly been surpassing the broader market, and that pattern or a trend has set itself up in recent weeks now. The tokens which continued to perform well amongst the list of top one hundred are as follows: MATIC, Fantom, Ethereum Classic, and Waves.

Cardano is endeavoring hard to make up to both the crates. It has effectively managed to increase its scalability due to the Hydra protocol’s launch in the previous year. On the contrary, smart contracts are present already on their testnet. If everything goes perfectly as planned, then Cardano is anticipated to be functional before August ends, and that can change the destiny of its ADA token as aftermath.

Moreover, ADA’s rate was reported to be $1.51 at the time of the press, and it enlisted a drop of 13.69% over the previous week. Whereas Armstrong claimed that the price of Cardano in the following cycle would be $6.8, which is four times its present cost, i.e., $1.7.

Over the previous month, Cardano managed to increase by 13.35% whereas, Ethereum decreased by 3.05%, XRP by 4.18%, and Bitcoin by 3.85%, keeping in mind that all these make it to the top 10 list. Analyzing these stats, Armstrong talked about how Cardano displayed an astounding strength to fight against the price fluctuations as compared to the other coins in this stressful run.

Furthermore, ADA continued to break its own ATH over and over again and managed to hit the mark of $2.39 on the 16th of May. From that day onwards, ADA has been dragged back. However, Armstrong claims that ADA has the potential to rise up to 9$ by the end of the current year. Armstrong additionally highlighted the chances while claiming that the odds of ADA rising to its peak and then dropping down are the slightest. The transactions in terms of number did not report any strange spike, although the alt was faring well in the previous month. However, the same spike kept on moving in the range of 60,000 txs for most of May.

To conclude, as recently called attention to, this is surely the finest opportunity to get into the market of Cardano before the hype of smart-contract further upsurges.

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