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Why is Cardano network activity growing, and how will this effect the ADA price?
Cardano price motion has remained unremarkable in recent weeks, as the coin continues to fall, resulting in lower lows.
However, as more Dapps join the blockchain, the protocol’s network activity has surged.
To begin a rebound, the Ethereum-price killer’s would need to recapture $1.64.
Although Cardano’s price has continued to fall following the Alonzo hard fork’s release, the protocol’s network activity has increased. According to analysts, the Ethereum-killer might be the most viable alternative to the current ETH environment.
Increased demand for ADA will be driven by DeFi.
Cardano and Ethereum have long been viewed as competitors in the cryptocurrency ecosystem. Cardano, according to Romain Pellerin, chief technical officer of Input Output, will be “on par with Ethereum” once smart contracts are introduced, with a lower carbon impact.
Cardano founder Charles Hoskinson earlier proposed that Tesla should accept ADA as payment after Elon Musk indicated that his firm will suspend Bitcoin payments owing to the environmental damage caused by mining activities. Cardano, unlike BTC and Ethereum, does not require large amounts of energy consumption because…
