Cardano ecosystem is gaining much attention and adoption every new day. As per the research made by Outlier Ventures, lauded Cardano is the most developed ecosystem among 50 open-source networks. Moreover, Cardano is giving a tough time to Ethereum as a number of NFT platforms are switching over.
One day after the launch of the Alonzo upgrade, Ethermobs was the NFT platform to switch over to Cardano blockchain. And the main reason behind the switch is Ethereum’s high gas fees. However, such premium gas fees are prohibitive to new or more niche platforms.
Additionally, it takes very little time to switch to Cardano as IOHK has built an ERC-20 converter to easily bring over the projects. With Cardano’s Alonzo upgrade welcoming 100 smart contracts in the first 24 hours, speculations heat up on ADA partnerships.
The Crypto community is now awaiting the Cardano Summit that will kick off on September 25 and 26. Further speculations turned up with regards to deals that will impress the Cardano community base. Moreover, the community is expecting collaborations with reputed organisations, which could make a positive impact on the Cardano ecosystem.
Also Read: Cardano Price to blast Out of Consolidation! Big Gains await for ADA Price
Though, Cardano’s smart contracts didn’t affect the price. ADA’s social trends and the ongoing strong consolidation phase is manifesting Cardano price to hit new milestones anytime soon. Reports from Santiment, a crypto metric platform, indicated that Social trends and other rising topics provided above include strong buy calls following the latest dip.
The present Cardano price consolidation phase is somewhat looking similar to November 2020 and January 2020. After which ADA price had massive gains. At the press time, Cardano is trading at $2.48 as the altcoin failed to find support at $2.65. ADA price has the strong potential to surpass $5 if it breaks at a resistance level of $3.10.
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