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Quadrupling the addresses - That's why Cardano could be an excellent investment right now



The ADA token of the Cardano network had a difficult time in the last few weeks. With the big correction on the crypto market, the ADA token in particular was hit hard. Still, we shouldn't overestimate the short-term price action. Because Cardano could offer a good entry point to investing at the moment. 

Cardano: ADA token is currently in descent

The price of Cardano's native ADA token has decreased extremely over the past few weeks. In September it was still $ 3. It has now dropped to $ 1.20. This crash is one of the biggest drops in the price of the top cryptocurrencies. The ADA token has lost over 60% of its value since September.

This drop, of course, raises doubts as to whether Cardano is actually as good an investment as it seemed in the fall. The ADA token is particularly cheap right now. So if you don't want to invest today, you don't believe in future price increases either. But there are good reasons why Cardano could be a good long-term investment.

Quadrupling of active Cardano addresses in November

The further developments in the Cardano network are not reflected in the price at all. The ADA token price is apparently simply a heavy victim of the major correction in the overall market. Because the Cardano network experienced a whopping quadrupling of the number of addresses in November. In the network, the number rose from 50,000 to 216,000. 

In general, Cardano has achieved many milestones in the past few weeks. The network is about to introduce numerous decentralized financial products (DeFi). The number of transactions rose by over 75% to 46.2 million in November. In early December, the network reached the milestone of 20 million transactions processed. 

Transition to a new development phase

The Cardano Foundation is known for calmly developing the Cardano blockchain with a clear long-term orientation. It is now entering a new development phase. The goguen phase was completed with the introduction of smart contracts. Now development moves into the basho phase, in which one concentrates on scaling.

With the final introduction of smart contracts, Cardano has positioned itself as an extremely solid competitor for Ethereum, whose transaction fees continue to rise. From a technical point of view, the network is developing excellently as expected. The falling hype and the emergence of Solana have recently put a damper on the course. But in the long term, I am convinced of the network. An investment in the ADA token could bear fruit in the long term right now.

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