Cardano’s native cryptocurrency ADA gained more than 10 percent on Sunday, January 16.
After a rise in transaction activity prior to the Sundae Swap later this week, Cardano’s current price soared. Cardano had the second-highest network activity, just ahead of Ethereum, according to Messari data.
Another noteworthy milestone was the activation of 70 new smart contracts on the Cardano blockchain between December 13 and January 13. After a strong start following the Alonzo upgrade in September 2021, Cardano’s smart contract launch faltered, resulting in a poor reputation.
Cardano founder Charles Hoskinson explained the scenario by saying:
“The software had to be redone three times because the architecture and vendors had drastically changed. There were some ways that didn’t work out and, of course, there were delays”.
The Sundae Swap will be launched as a fully functional beta decentralized exchange on the Cardano blockchain later this week (DEX). The yield-farming for SUNDAE will commence soon after the launch.
Do you believe that the recent increase in Cardano could result in prolonged price gain in 2022? Comment below!
