Can Cardano (Ada) be worth 1000? Cardano, one of the favorite currencies in the crypto currency exchange, continues to increase its value. How realistic are the predictions that the Cardano (ADA) coin value will be 1000 thousand dollars?
Cardano (ADA) Searches Reach an All-Time High on Google!
Google searches for Cardano (ADA) have surpassed all-time highs. These searches on Google coincided with the record-breaking value of the ADA token.
Google Trend’s data often provide important clues about the course of cryptocurrencies. By looking at the searches made on Google, you can have an idea about the performance of crypto coins.
According to the data shared by Google Trends, Cardano has been the center of attention of small investors. Cardano searches have increased significantly since the beginning of February.
This popularity of Cardano has increased considerably these days when the project is experiencing significant developments. Charles Hoskinson, head of the project, talked about new partnerships and integrations. In addition, the protocol update named Mary went live at the beginning of the week.
Increasing Interest in ADA Demand Gains High Value
Interest in ADA, the native token of the Cardano platform, is increasing day by day. Last week, a Dubai-based investment fund announced that it plans to sell $ 750 million of Bitcoin assets and invest in DOT and ADA instead. All these developments significantly affected the value of the asset.
Entering the year 2021 with a value of $ 0.18, Cardano managed to increase to $ 1.50 with a total increase of 700% a few days ago. The asset is traded at $ 1.23 at the time of writing.
ADA’s impressive performance also enabled the market value of the asset to reach $ 40 billion. Following these developments, ADA became the third largest digital asset after Bitcoin and Ethereum.
Why Did Cardano (ADA) Rise?
Apart from the bull market we are in, there are three main reasons behind Cardano’s tremendous rise.
- The Network Is Moving Into The Smart Contract Era
With the new update coming in March, Cardano will launch the era of smart contracts. The Cardano network will turn into a DeFi platform with this update.
- Making the Network Community Controlled
Decentralization is becoming more and more important in the cryptocurrency community. IOHK, the company behind the network, will release all control over block generation in the network on March 31st.
- IOHK’s African Agreements
IOHK and the Cardano Foundation have worked on a number of projects targeting Africa only and are planning to bring millions of new users to the network through these projects. The company is in the final stages of the major African project.