Cardano

<ul><li>IntoTheBlock reports Cardano&#39;s 4.45M addresses stagnate, struggling to attract new users as SOL and Base gain traction.</li><li>Despite stagnation, ADA&#39;s transaction volume remains strong, processing $7.2B daily.</li><li>Nearly 40% of ADA&#39;s supply is held by long-term investors, showing strong confidence despite ADA&#39;s current challenges.</li></ul>Cardano, once seen as a strong contender to Ethereum, now faces a period of stagnation. Insights from the analytics platform IntoTheBlock show that the number of Cardano addresses with a balance has remained around 4.45 million for over a year. In a recent X post, the platform highlighted that this lack of growth underscores the network’s challenge in attracting new users. This challenge is particularly evident as attention shifts to competitors like Solana and Base.According to the platform findings, in the previous market cycle, Cardano gained significant traction, fueled by its potential to overcome Ethereum&#39;s limitations. The network’s innovative approach and strong community support positioned it as a formidable player in the blockchain space. However, as the current cycle unfolds, Cardano appears to be losing its edge. The explosive growth that once defined its rise has given way to a period of stagnation, with the platform struggling to maintain its relevance in a rapidly evolving market.Despite these difficulties, Cardano’s transaction count and active user base have remained steady since April. This stability indicates that while the network may not attract many new users, its existing community continues to engage actively. The ongoing participation of this core group reflects the resilience of the <a href="https://cryptotale.org/cardano-founder-weighs-inis-decentralization-the-key-to-avoiding-future-outages/" rel="noopener noreferrer nofollow">Cardano ecosystem</a>, which remains strong even amid external pressures.<a href="https://cryptotale.org/cardano-stagnates-as-40-of-ada-held-by-long-term-investors/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Cardano Stagnates as 40% of ADA Held by Long-Term Investors

CryptoTale

Other articles published on Aug 13, 2024

These 2 Altcoins To Dominate The Crypto Run This Week?

Elon Musk and Donald Trump Disappointed! They Skipped Bitcoin (BTC) and Cryptocurrencies!

USDT and USDC Supplies Jump $3B During Crypto Market Surge

Here’s What Tether’s CEO Revealed About the Company’s Bold Move into Venture Capital

BNB Chain Announces ‘Meme Innovation Battle Round 3 – Birth of MEME Heroes’

Bitcoin's Unspoken Flaw: How Did Michael Saylor Outshine Warren Buffett?

Join our free newsletter for daily crypto updates!