Cardano Set To Parabolically Roll Higher From Here Based On Robust Wallet Growth

Cardano Set To Parabolically Roll Higher From Here Based On Robust Wallet Growth
фото показано с : zycrypto.com

2022-4-21 20:57

The number of new addresses created within the Cardano blockchain grew by nearly 100,000 in the past month alone. The rise in the number of wallets coincides with the rapid growth of Cardano’s decentralized finance (DeFi) protocols. And the creator of the Layer 1 platform which hopes to compete with the likes of Ethereum and Solana, is predicting a promising future for the network.

The number of wallets holding Cardano’s ADA token has increased significantly since 2021. Since March 22, roughly 93,630 wallets have joined the Cardano network. The total figure stood at 3.268 million as of April 19. Cardano’s Charles Hoskinson believes the incredible growth of ADA wallets is a sign of good times ahead.

The average rate of new ADA addresses added on a daily basis has increased from 2,000 to 8,130. Additionally, transactions bigger than $100,000 have spiked by over 45x since the beginning of the year, hinting at strong institutional interest.

ADA Is Fundamentally Bullish

Cardano has been the target of ridicule and acrimony over the years due to delays. But the network has been gaining traction in recent months after the launch of smart contract capabilities. The blockchain has seen incredible network growth in areas including, sidechains, NFTs & partnerships, launchpads & project launches, and converter bridges.

Cardano is also expecting the Vasil hard fork in June. Hoskinson has previously suggested that many ADA decentralized applications (DApps) are waiting for the launch of the major upgrade to join in. Total value locked (TVL) currently stands at $223.44 million, according to data from DefiLlama. The “Basho” phase of the Cardano roadmap promises more scalability and smart contracts with Hydra to boost the network’s total throughput even further.

The ninth-biggest cryptocurrency by market value was trading near $0.95 at press time, a 2.05% gain on a 24-hour basis. While Cardano is currently enjoying positive price action, it has lost more than 69% since peaking above $3 in September 2021. However, the strong network fundamentals could signal that a strong bullish impulse is underway.

Moreover, a spike in buying pressure and the positive sentiment building around ADA at the present price levels may help validate the optimistic outlook of the fast-growing smart contract-powered token, resulting in an upsurge to the $1 level.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Amun Bitcoin 3x Daily Long (BTC3L) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 2.3436 (-100%)

increased new rate ada addresses basis daily

Источник: zycrypto.com

increased new → Результатов: 126


Entain integrates Syntropy's technology to increase network performance and resiliency

Syntropy is helping enterprises meet the increased requirements for network performance for Web3 applications with its critical data routing protocol that modernizes internet connectivity for the new The post Entain integrates Syntropy's technology to increase network performance and resiliency appeared first on AMBCrypto.

2022-4-8 13:45


Here is January's prediction for Bitcoin; investors should ready themselves for 'New Year'

As investors bid farewell to 2021, the global crypto market cap increased by 2.44% over the last 24 hours. While many can't get over the bearish sentiment, economist and crypto trader Alex Kruger 'expThe post Here is January's prediction for Bitcoin; investors should ready themselves for 'New Year' appeared first on AMBCrypto.

2021-12-31 16:30


“This Isn’t Just Bitcoin Anymore,” It’s Digital Assets Creating an Ecosystem of New Opportunities, says Head of BofA Global Research

Bank of America has finally launched coverage of cryptocurrencies due to “growing institutional interest” and the massive appetite among retail clients. Candace Browning, head of global research at BofA Securities, shared in an interview with Bloomberg that the number of corporates mentioning crypto on their earnings calls has increased to about 147 in the most […] The post “This Isn’t Just Bitcoin Anymore,” It’s Digital Assets Creating an Ecosystem of New Opportunities, says Head of BofA Global Research first appeared on BitcoinExchangeGuide.

2021-10-5 16:29


Фото:

Where to buy Binamon (BMON): price up 31% in 24 hours as Binamon sees increased activity

In the last 7 days, Binamon (BMON) price has risen by more than 12% and by 31% in the last 24 hours hinting at an end of the bear trend that started on August 23. To help new investors and traders eyeing cryptocurrency, Invezz has created a brief article to assist crypto traders and investors […] The post Where to buy Binamon (BMON): price up 31% in 24 hours as Binamon sees increased activity appeared first on Invezz.

2021-9-23 15:11


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin price: Here’s why QCP Capital expects BTC run to $74k

Bitcoin surges past $66k after US CPI data triggers buyside pressure Here’s why QCP Capital analysts say BTC could run to $74k Bitcoin price surged past the $66,000 mark on Thursday to hit highs last seen in April amid a fresh dose of bullish sentiment.

Peter Thiel’s VC, Vitalik Buterin back $70 million raise for Polymarket

Peter Thiel’s venture capital firm Founders Fund co-led a $45 million Series B raise for Polymarket. Ethereum co-founder Vitalik Buterin also backed the Series B round. The predictions marketplace also announced it raised $25 million in a Series A round, led by General Catalyst and Polychain.

dYdX founder Antonio Juliano steps down as CEO

Juliano steps down as dYdX CEO, Crnkovic-Rubsamen takes over. The transition marks Juliano’s move to Chairman and President roles. dYdX experiences surge in activity amid market rebound. In a significant leadership transition within the crypto space, Antonio Juliano, the founder and long-time CEO of dYdX, has announced his decision to step down from his role.