The post Cardano Hits 111 Million Transactions: Is ADA Gearing Up for Its Next Big Rally? appeared first on Coinpedia Fintech News
Cardano has officially surpassed 111 million transactions on its network, marking a major milestone for the blockchain platform. This shows that more people are using Cardano, interacting with its dApps, and the network is growing stronger and more reliable over time.
Cardano Shows Strong Ecosystem Growth
Cadano’s ecosystem continues to expand steadily. It now boasts 2,005 active projects. The number of delegated wallets remains strong at 1.33 million, which shows sustained interest in staking. Smart contract development is also accelerating, with 138,996 Plutus scripts and 7,682 Aiken scripts deployed.
Strong On-Chain Activity
On-chain governance shows momentum, as DReps have increased to 1,377, with 976 currently active. The developer engagement has also surged by 27%, with 259 GitHub commits last week.
In the past 67 days, the Cardano network has handled 276 billion ADA in transactions worth around $165 billion based on average market prices. This highlights Cardano’s strong on-chain activity.
Cardano community sentiment also hit a a 30-day high, with 93.8% of users on CoinMarketCap feeling bullish. Despite the short term price swings, the confidence in the project remain strong. Over 22 billion ADA is now staked, which represents more than 62% of Cardano’s circulating supply. This strong staking activity reflects deep community trust and long-term confidence in the Cardano network.
Also, Brave Browser, which integrated Cardano in beta, now has over 91 million monthly users. Its support for Cardano and the upcoming Midnight sidechain highlights growing utility and reach beyond the blockchain.
Experts predict ADA could rally toward $0.91
A veteran crypto analyst Lucky, has expressed a bullish outlook on Cardano saying that it is “screaming for higher levels.” Crypto analyst Ali Martinez recently shared that a daily close above $0.67 could trigger a strong rally for Cardano, pushing it into the $0.83–$0.91 range.
It is currrenty trading at $0.5732, down 1.6% in the last 24 hours. Cardano’s bullish sentiment is echoing its epic 2020 rally. Analysts say that the current setup feels similar and if ADA breaks above $0.80, another big move could be on the horizon.