A recent report on the Cardano ecosystem revealed that over 2000 dApps are being built on the network, providing grounds for new price growth predictions for ADA.
Growth of dApps and Network Metrics
According to the Cardano Foundation, the network's ecosystem shows steady growth. A total of 10.83 million native assets have been minted, smart contracts deployed are close to 140,000, and total transactions exceed 110.4 million. This indicates that, despite skepticism, Cardano demonstrates developer activity and network engagement.
Resilience and Development of DeFi on Cardano
Despite its growth, Cardano still trails behind Ethereum and Solana in total value locked (TVL), which is around $285 million, compared to Solana's $8.8 billion and Ethereum's $62.9 billion. However, within Cardano’s DeFi ecosystem, projects like Minswap and Liqwid stand out, showing healthy competition and capital flowing into functional protocols.
Technical Analysis and ADA Price Forecasts
After a four-day slide, Cardano bounced back and found support at the $0.600 level, establishing a psychological and structural floor. Analysts believe that if the ADA price can rise above $0.730 and successfully retest this level, it could signal bullish continuation.
With over 2000 dApps and growth in DeFi activity, Cardano is transitioning from a speculative to a functional ecosystem. The improvements in the network and increasing interest in real-world applications provide optimism for achieving a price of $1.
