Since September 2022, the crypto communities have continued arguing about the trading price of Cardano (ADA). Back in September 2022, when Cardano launched its upgrade, the ADA community had very high hope about the trading price of the token.
However, things did not work out as Cardano had planned because of the crypto winter, which let no crypto shine despite of their overall performances.
Cardano is Expanding
Despite the upset, the network had to face due to the crypto winter even after its upgrade, Cardano has continued expanding.
The network is moving forward in the right direction and its ecosystem has been growing with every passing day.
Just recently, Cardano announced the launch of its new update. The company revealed on March 16 that it was their Cardano Node version 1.35.6.
They confirmed that with the launch of the new update, they will be able to introduce a lot of efficiency in their mainnet. It would also go on to increase the resilience of their network and increase P2P support.
The number of Wallets is Rising on Cardano
Due to the recent developments, the number of wallets has continued increasing for ADA. The report shows that on March 21, the total number of wallets carrying ADA had crossed the 4 million mark.
However, the growth figure did not stop at 4 million, as they kept on rising, and the number is steadily rising to this day.
Cardano has a Positive Outlook
Cardano is leaving no stone unturned when it comes to making improvements to its protocol. It has been introducing several upgrades and updates to its protocol to make it more usable and convenient for users and developers.
Cardano teams recently revealed that compared to all of the technological advancements, their main focus is on six major aspects.
These aspects include governance, scaling, smart contracts, services, wallets, and most importantly their core technology. The communications that Cardano has made with its users and stakeholders, it has shown that it has a clear path ahead.
Things are proving to be quite positive and full of progress for the Cardano platform.
AI-Based Prediction for ADA
As AI technology is becoming more and more common, analysts have also started using the technology to their benefit.
They are providing the AI with all the technical analysis data including the indicators to have the bots predict the price of ADA in the future.
Multiple analysts provided the data from their end to the AIs and the consensus they built around ADA’s price on Easter Sunday 2023 was ADA trading at $0.325.
Given all the market trends, graphs, charts, and indicators, the AI bots have come to the conclusion that on April 9, ADA will hit $0325.
At the time of writing, ADA’s trading price is at $0.358. This means that the asset’s price may dip in near future, which is not a good sign. However, the price of the asset may surge after a slight dip.