The Cardano network has achieved a significant milestone by surpassing 10 million native tokens, showcasing its increasing adoption within the blockchain and cryptocurrency space. This achievement highlights the advantages of Cardano's native token feature, allowing users to transact with ADA as well as an unlimited number of user-defined tokens.

Native tokens offer specific advantages for developers, as there is no need to create smart contracts to handle custom tokens. This eliminates an additional layer of complexity and reduces the possibility of manual errors, as the ledger manages all token-related functionality.

According to the latest IOG weekly report, native tokens on the Cardano network have reached 10 million, distributed across 120,576 token policies. Additionally, network transactions have soared to 90.8 million, while Plutus scripts currently stand at 46,698.

Looking ahead, the Cardano network is eagerly anticipated to experience further growth and expansion. The ongoing development of its smart contract capabilities and upcoming upgrades, such as the Chang network upgrade, are expected to attract an even larger user base to the platform.

However, Cardano's native cryptocurrency, ADA, has recently faced challenges in its price rise. Although ADA showed gradual growth, reaching highs of $0.51 on May 21, it encountered resistance and experienced consecutive decreases for four days. At the time of writing, ADA is down 0.33% to $0.4611 over the past 24 hours.

The 50-day and 200-day simple moving averages (SMA) have presented significant barriers to ADA's rising trend since the beginning of April. Furthermore, recent market observations have raised speculation about the short-term price trajectory of ADA, triggered by a death cross crossing. In the short term, the 50-day Exponential Moving Average (EMA) serves as an immediate resistance level that ADA must surpass to indicate a possible rally.

Despite short-term setbacks in ADA's price performance, the Cardano network's achievement of surpassing 10 million native tokens underscores its growing prominence in the blockchain and cryptocurrency space. With continuous development and improvements on the horizon, Cardano is well-positioned for further growth and adoption in the future.