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Cardano Accumulation and Future

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Cardano’s shark address has a total of 4 billion ADA coins. The Cardano Plutus smart contract has also seen a 400% increase this year. The ninth largest cryptocurrency in the world, Cardano (ADA), has seen significant price movements over the past few months.

However, ADA prices have entered a broader market correction and are down nearly 14% over the past week. But data provider Santiment shows that Shark Shark addresses have been trending even after crypto exchange FTX shut down last month. This group of Shark addresses currently has more than 4 billion ADA coins. String data provider

At press time, ADA is trading up 2.8% at a price of $0.26 with a market value of $8.9 billion. This altcoin continues to maintain its position among the top 10 currencies from the market capitalization.

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How Does 2022 Hold for Cardano?

On the blockchain front, the ADA team has made significant improvements to the blockchain. The Cardano Foundation recently released information about their performance and growth this year and 2022.
According to the data provided, ADA Improvement Proposals (CIPs) have grown by 100% this year. There are about 50 proposals reviewed, 38 new CIP authors, 155 requests and many more in 2022.

According to the Cardano Foundation, Plutus smart contract scripts jumped almost 400% this year compared to 2021. The total number of Plutus scripts has increased to 4,445. Local shows have grown to 7.3 million with a 192% increase since 2021.

The number of transactions on ADA this year increased by 139% to 57 million. Similarly, the total number of wallets jumped 47% to 3.8 million. In general, blockchain works well in terms of innovation.

However, with the price of ADA hovering around 25 cents, the question is when will Cardano touch $1?

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