Cardano

Multichain

Dynamic

Ouroboros

Notable

<p>The renowned market intelligence platform Santiment (@santimentfeed), recently <a href="https://twitter.com/santimentfeed/status/1688789040815075328?s=20" target="_blank" rel="noopener noreferrer nofollow">shared </a>an insightful analysis on Twitter regarding the cryptocurrency Cardano ($ADA). The tweet reads:</p> 
<p>This analysis suggests that large holders of Cardano, often referred to as “whales” and “sharks”, have been steadily increasing their holdings to levels not seen since September 2022. Furthermore, on-chain transaction volume, a key indicator of network activity and usage, has been on an upward trend for the past six months. This could potentially indicate growing interest and activity in the Cardano network.</p> 
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<p>As a top-notch analyst, Santiment’s observations provide valuable insights into the current state of the Cardano market and its potential future movements.</p> 
<p>In another <a href="https://messari.io/report/state-of-cardano-q2-2023" target="_blank" rel="noopener noreferrer nofollow">report </a>by crypto market intelligence platform Messari, there has been a notable rise in performance for Cardano in Q2.</p> 
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<p>The “State of Cardano Q2 2023” report by Messari provides a comprehensive analysis of the Cardano ecosystem’s performance during the second quarter of 2023. Here are the key takeaways:</p> 
<ol> 
 <li><strong>Growth in Dapp Transactions and TVL</strong>: Cardano’s ecosystem saw a significant growth of 49% QoQ in dapp transactions and 10% QoQ in Total Value Locked (TVL) in USD. The ecosystem also diversified with newer protocols contributing significantly to various activity metrics.</li> 
 <li><strong>Development of Multichain Solutions</strong>: Multichain solutions like Hydra Head and the Milkomeda C1 sidechain continued to mature, aiming to support future activity increases, whether from DeFi or gaming.</li> 
 <li><strong>Increased Interoperability and New Use Cases</strong>: Teams like Milkomeda C1, Midnight, Wanchain, and IOG’s sidechains team are working towards increased interoperability and new use cases in the greater Cardano ecosystem.</li> 
 <li><strong>Performance Analysis</strong>: The average transaction fee increased 8.5% QoQ from $0.117 to $0.126. Despite the increase in back-to-back quarters, the average transaction fee (USD) is still down 50.8% YoY, due to lower YoY ADA prices.</li> 
 <li><strong>Financial Overview</strong>: ADA’s price and market cap pulled back after a 53.5% increase in Q1. Despite the 26.9% QoQ decline, ADA is still up 12.0% YTD.</li> 
 <li><strong>Ecosystem Overview</strong>: Average daily dapp transactions have increased for the third consecutive quarter. Dapp activity accelerated to a 49.0% QoQ increase in Q2, averaging 57,900 daily transactions.</li> 
 <li><strong>Staking and Decentralization Overview</strong>: The number of stake pools and delegators did not change significantly in Q2. Active stake decreased 7.7% QoQ to 22.7 billion ADA, its lowest level in a year. Similarly, engaged stake decreased to 64.8%, also a yearly low.</li> 
 <li><strong>Development</strong>: Notable development events and efforts in Q2 include continued development on Marlowe, Aiken, and other programming languages. Dynamic P2P is live and development on Ouroboros Genesis continued.</li> 
</ol> 
<p>This report indicates that despite some challenges, Cardano continues to grow and evolve, with significant developments in its ecosystem and a steady increase in dapp transactions and TVL.</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/cardano-whales-stockpiling-ada-like-crazy-while-price-barely-moves-what-does-this-mean/">Cardano Whales Stockpiling ADA Like Crazy While Price Barely Moves – What Does This Mean?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Cardano Whales Stockpiling ADA Like Crazy While Price Barely Moves – What Does This Mean?

CaptainAltcoin

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