Cardano

2024

Solana

Value

Base

<a href="https://bitcoinworld.co.in/cardano-faces-growth-challenges-as-user-base-remains-flat/" title="Cardano Faces Growth Challenges As User Base Remains Flat" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">Cardano is struggling to grow its user base amidst increasing challenges from new blockchain platforms like Solana and Base.</li> 
</ul> 
<a href="https://twitter.com/intotheblock/status/1823272401448095853">According</a> to IntoTheBlock, the number of addresses holding ADA has remained steady at about 4.45 million for over a year, indicating stagnant growth. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Cardano’s number of addresses with a balance has hovered around 4.45 million for over a year. Here's what's going on<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 During the last cycle, Cardano experienced significant growth, positioned as a strong alternative to Ethereum. However, in the current cycle, the network faces… <a href="https://t.co/WJrnAP8FQZ">pic.twitter.com/WJrnAP8FQZ</a> 
 — IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1823272401448095853?ref_src=twsrc%5Etfw">August 13, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Despite significant price fluctuations, Cardano’s user base has shown resilience, with consistent address growth since mid-2021. However, recent trends show a shift of interest towards newer competitors, making it difficult for <a href="https://bitcoinworld.co.in/cardano-ada-set-to-launch-chang-hard-fork-with-major-network-upgrades/">Cardano</a> to attract new users. 
The network continues to handle around $7.2 billion in daily transactions, suggesting robust activity despite these challenges.&nbsp; 
Cardano’s Network Value to Transactions (NVT) ratio is low at 2.62, which could imply that ADA is undervalued relative to its usage. 
The percentage of ADA held by long-term investors is also strong, with 40% of the total supply in their hands, signaling ongoing confidence in the platform’s potential.&nbsp; 
Currently, ADA is priced at $0.336, holding a market cap of $12.07 billion. 
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Cardano Faces Growth Challenges As User Base Remains Flat

ItsBitcoinWorld

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