Hydra

Cardano

Mithril

<p style="text-align: justify"><a href="https://en.coin-turk.com/cardano-rebounds-5-percent-as-ada-retests-0-25-support/" rel="noopener noreferrer nofollow">Cardano</a> has reached a new milestone in its push for greater decentralization, recording its highest-ever Nakamoto coefficient. This measure indicates improved security and resilience for the blockchain network, as it becomes more resistant to control by a small group of participants.</p>
<h2 id="all-time-high-decentralization">All-time high decentralization</h2>
<p style="text-align: justify">Rick McCraken, a Cardano stake pool operator, drew attention to this achievement on X, referencing data from Chainspect, a Web3 blockchain analytics platform. According to Chainspect, Cardano’s Nakamoto coefficient has climbed to 16, signaling an unprecedented level of decentralization for the network.</p>
<p style="text-align: justify">A higher Nakamoto coefficient reflects that a larger number of independent entities would need to act together to compromise the blockchain, thus enhancing security and censorship resistance.</p>
<blockquote>
 <p>Cardano’s increased Nakamoto coefficient strengthens network control by distributing influence among more independent entities, resulting in better censorship resistance and reduced centralization risk for its users.</p>
</blockquote>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: Nakamoto coefficient, a metric representing the minimum number of independent entities required to disrupt the operation of a blockchain, with higher values indicating less concentration of control and greater network security.</p>
<p style="text-align: justify">For proof-of-stake systems like Cardano, this coefficient considers the distribution among stake pools, validators, or block producers. In proof-of-work networks, it reflects the distribution across mining pools. When the coefficient is low, the network faces greater centralization and potential risk.</p>
<h2 id="ada-price-recovery-and-market-context">ADA price recovery and market context</h2>
<p style="text-align: justify">Cardano’s native token ADA has also experienced notable price movement, reaching $0.199 on August 4. This marked the first time in a month that ADA traded above $0.19. The price rebound follows a period of weak performance across most altcoins, setting ADA apart in the market.</p>
<p style="text-align: justify">Analytics firm Santiment stated that ADA’s weekly gain of nearly 17% made it stand out amid a challenging environment for other cryptocurrencies. ADA began its upward trend from a low of $0.153, representing a nearly 30% rise to its recent high.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Date</th>
   <th>ADA Price Low</th>
   <th>ADA Price High</th>
   <th>Weekly Gain (%)</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>July 4</td>
   <td>$0.153</td>
   <td>$0.19</td>
   <td>–</td>
  </tr>
  <tr>
   <td>August 4</td>
   <td>$0.153</td>
   <td>$0.199</td>
   <td>16.92</td>
  </tr>
 </tbody>
</table>
<h2 id="holder-trends-and-ongoing-development">Holder trends and ongoing development</h2>
<p style="text-align: justify">Despite the price increase, Cardano currently has 7,070 fewer non-empty wallets than two months ago. This suggests that although ADA’s value has recovered, some previous holders have not re-entered the market. Analysts interpret this trend as evidence that more committed buyers may be absorbing the available supply, while confidence among retail participants has not fully returned.</p>
<p style="text-align: justify">Santiment pointed out that Cardano’s recent rebound is supported not only by price action but also by ongoing activity within its ecosystem. This includes developments such as work on the Leios testnet, improvements in Hydra scaling, Mithril protocol upgrades, Pyth network integration, and new funding rounds through Project Catalyst, Cardano’s decentralized innovation fund.</p>
<blockquote>
 <p>Cardano’s resurgence is underpinned by ecosystem advancements, including recent testnet developments and upgrades across multiple protocols, which provide a stronger foundation for the network’s ongoing growth.</p>
</blockquote>
<p>The post <a href="https://en.coin-turk.com/cardano-hits-record-nakamoto-coefficient-as-ada-rises-30yuzde-from-july-low/" rel="noopener noreferrer nofollow">Cardano hits record Nakamoto coefficient as ADA rises 30% from July low</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Cardano hits record Nakamoto coefficient as ADA rises 30% from July low

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