The Cardano Network (ADA) is showing signs of a strong revival. Recently, the number of active wallet addresses increased significantly in just 30 days, setting a new annual record.
According to data from decentralized exchange Danogo, more than 600,000 addresses were active, an increase of more than 70,000 since the start of the month.
This growing activity has been visible since September, when the network hit a low point with just 297,000 active wallets.
The growth in the number of active addresses goes hand in hand with a remarkable increase in the ADA price. A record high of over 76,000 daily active addresses was observed on March 6, just as the digital currency reached a local peak of $0.78.
Analyst predicts: Cardano price will rise to $1.20
It is therefore not surprising that many analysts are positive about Cardano. Well-known crypto analyst Sssebi predicts that Cardano is on the verge of a significant price increase. He expects an increase of about 60% in the coming week, which would bring the price to about $1.20.
Sssebi supports this prediction on the analysis of Cardano’s weekly price chart, which shows compelling evidence of a continued positive trend. The fact that the coin is consistently trading above the 200-week average plays a role in this. This phenomenon indicates limited resistance on the way to the $1.20 target, implying significant and rapid value growth for this altcoin.
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Source: https://newsbit.nl/cardano-bereikt-nieuw-record-en-lijkt-klaar-voor-prijsstijging-naar-120/
