These Dapps could drive price when adoption gains steam – ADA poised to reach $1
As of January 4, the number of unique accounts on all DApps surged to around 255K.
While the crypto is witnessing a bull dominating markets, some DApps on the Cardano network have been tipped to help drive the price of ADA to the top when adoption gains steam.
It was reported late last year that the Decentralized Applications (DApps) on the Cardano network had seen a surge in unique account growth. Indigo Protocol topped the list with a surge of 62,109 percent in unique accounts. Earlier this month, DApps on the Cardano chain recorded an incredible milestone completing up to 16 million transactions.
As of January 4, the number of unique accounts on all DApps surged to around 255K. While the crypto market is witnessing a bull dominating markets, some DApps on the Cardano network have been tipped to help drive the price of ADA to the top when adoption gains steam.
Top #Cardano Dappshttps://t.co/eoyIWJd5tb pic.twitter.com/lsvmlV70Bb
— Darren ☘🇮🇪 (@CryptoIRELAND1) January 26, 2023
DApps on Cardano that can trigger a bull run
The first DApp that could act as a catalyst for ADA’s price surge is JPG Store. According to DappRadder, this is the highest-ranked project on the Cardano network. JPG Store has recorded a $12.37 million transaction volume in the last 30 days. Within the same period, 830K transactions have been facilitated and have $738K in total fiat value of assets in a DApp’s smart contract. It has 29.73K unique active wallets interacting or performing transactions with DApp’s smart contract.
It describes itself as a Cardano Non-Fungible Token (NFT) marketplace that allows users to buy and sell Cardano NFTs, makes offers, etc.
JPG store is a Cardano NFT marketplace that allows you to discover artwork, support creators, and join communities on a decentralized blockchain.
The marketplace has a launchpad and a minting feature that provide support for artists in the Cardano community and assist them to turn their art into an NFT.
Labs by Mutants and Minswap
Labs by Mutants is another project that could help drive the price of ADA up. On the DappRader rankings, it is the second on the list with a total transaction volume of $729K in the last 30 days. Within the same period, 202K transactions have been facilitated. Its total fiat value of assets in a DApp’s smart contract is $28K. It also has 8.28K of unique active wallets.
Labs by Mutants exist as the next-generation platform for NFT holders and creators. It describes itself as the best staking and raffle service for NFTs on Cardano.
The third DApp on the Cardano network expected to drive the price of ADA is Minswap. This project is a decentralized exchange on Cardano that enables users to trade their tokens. Users can do all of these from their mobile with the MinWallet.
Provide Liquidity or Zap to earn trade fees. – MIN Farms and Double Farms: Stake your tokens on Minswap’s Farms to get rewards. – Portfolio : Keeping track of all of your liquidity.
– Launch Bowl: Get exclusive access to farm new tokens by being a liquidity provider!
Minswap is ranked third by DappRader with a total volume of $82.74 million in the last 30 days. Within the same period, 394K transactions have been processed with $39.62 million total fiat value of assets in a DApp’s smart contract. It has 16.73K of unique active wallets.
Many crypto influencers have predicted that ADA could hit $1 in the first half of 2023, and could be largely triggered by the activities on the Cardano network. ADA is currently trading at $0.37.
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Filed under: Bitcoin - @ January 26, 2023 12:15 pm