**Cardano (ADA) Reaches 10 Million Tokens Milestone**
The Cardano network has achieved a significant milestone, surpassing 10 million native tokens. This reflects Cardano's growing adoption in the blockchain and cryptocurrency sectors. Native tokens on Cardano enable the transacting of multiple assets, including ADA and an unlimited number of user-defined tokens, without the need for smart contracts. This reduces complexity and the potential for errors, as the ledger handles all token-related functions.
According to the latest IOG weekly report, Cardano has now issued over 10 million native tokens with 120,576 token policies. The network has also processed 90.8 million transactions and deployed 46,698 Plutus scripts.
Cardano is expected to continue its growth with ongoing smart contract enhancements and upcoming upgrades like the Chang network update, which are anticipated to draw more users to the platform.
**ADA Price Action**
Recently, ADA's price rise has faced resistance from its daily moving averages. ADA reached a high of $0.51 on May 21 but then declined for four consecutive days before rising again. As of now, ADA is down 0.33% to $0.4611 in the last 24 hours.
The 50-day and 200-day simple moving averages have been significant obstacles to ADA's upward trend since April. A recent death cross has added uncertainty to ADA's short-term price outlook. The 50-day EMA currently serves as an immediate resistance level that ADA needs to surpass to potentially rally further.
