One such innovation is the optimization of the efficiency of DApps through incomplete transaction processing. It expands the user base through this ability to process partial transactions. With increasing trading activities and overall market recovery, ADA keeps on going north.
Why is Cardano’s price rallying?
Cardano is up by over 10.75% in the last 24 hours, currently sitting at .0481 after crossing the mark. This latest price action begs the question of whether Cardano’s 2021 historic bull run can be replicated.
Cardano’s recent rally has drawn comparisons to its 2021 bull run, with on-chain metrics showing a rise in daily and 30-day active addresses, a trend reminiscent of its historic price surge. On-chain metrics and historical data provide interesting comparisons. The chart shows that the number of active daily and 30-day addresses of ADA has increased multi-fold, a pattern similar to what was witnessed during the 2021 price explosion. At that time, high network activity coincided with ADA’s surge past as people hoped for the Alonzo upgrade.
Trading volumes for Cardano (ADA) are up by 23% to .62 billion, marking a renewed interest in the cryptocurrency. Crossing the mark represents a psychological milestone for ADA after months of trading below this threshold.
Cardano imitates 2021 bull run
The recent jump in the market price of the token is probably due to both the new upgrades to blockchain technology and an increase in general optimism in the market. The blockchain also released its CIP-113 proposal on Jan. 2, which will allow for programmable assets, improved security, and smart accounts. Hoskinson, the founder of Cardano, has stated that the blockchain is growing into a multi-chain, multi-actor network scheduled with Midnight update.
