Cardano ADA/USD is a proof-of-stake (PoS) blockchain platform and recently introduced a programming language known as Plutus for writing smart contracts on its blockchain after its Alonzo hard fork.
This has paved the way for much future development within the Cardano ecosystem, and we are starting to see some progress.
The growth of the Cardano ecosystem as a catalyst for growth
On December 3, we discussed how the Cardano-based DEX and AMM DOEX launched their public sale on Kick.io.
Later on, throughout the month, on December 6, the Cardano Community Twitter page announced that there were over 1 million delegated Cardano Wallets. We also saw SundaeSwap DEX on Cardano launch their public testnet at this time.
In a huge development period for the Cardano blockchain, on December 8, we saw a significant increase in the number of Plutus-based smart contracts on the Cardano blockchain.
Additionally, within the last 24 hours, Cardano (ADA)’s market cap kicked back up by 2%, which shows that it is climbing back up in value.
That said, each of these developments and the overall growth of the Cardano ecosystem can contribute to a growth of the value of the ADA token in the future.
Should you buy Cardano (ADA)?
On December 15, Cardano (ADA) had a value of $1.25.
To see what this value point means for the ADA token, we will compare it to its all-time high volume as well as the performance it had last month.
In terms of the ATH value point of the ADA token, it raised to a value of $3.09 on September 2. At its ATH
