This month, the cryptocurrency community has set a bullish price target for smart contract platform Cardano ($ADA), presumably in response to the network’s improved performance following the Vasil hard fork and its growing adoption.
According to estimates made on CoinMarketCap’s pages, the smart contract platform’s price will trade at $0.517 by the end of November, representing a 27.7% increase from the current $0.40 level.
According to the estimates, the price of Cardano will be $0.487 at the end of the year, representing an increase of slightly more than 20% from current levels.
It’s important to note that the cryptocurrency community’s predictions may never come true.
According to the platform’s data, its average $ADA predictions were close to 60% accurate last month, but less than 10% earlier this year.
The cryptocurrency community’s forecast likely takes into account increased ADA adoption, with South Korean cryptocurrency bank Delio preparing to list $ADA and launch a staking service for it.
According to its CEO, Sam Bankman-Fried, cryptocurrency exchange FTX is planning to list spot $ADA trading pairs.
The Cardano Foundation recently released the network’s on-chain statistics for October, revealing that native tokens on Cardano increased by nearly 5% to 6.62 million, while plutus scripts increased by 4.59% to 3,535.
Notably, the number of Cardano transactions increased by 4.18% to 53.3 million, while smart contract transactions increased by more than 2%.
After the highly anticipated Vasil hard fork, popular crypto trader and market analyst Michael van de Poppe shared the “ultimate area” to buy the native token of smart contract platform Cardano, $ADA, last month.