Cardano

April

Daily

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cardano-experiences-growth-in-network-activity-and-whale-transactions" rel="noopener noreferrer nofollow">Cardano Experiences Growth in Network Activity and Whale Transactions</a><br></p>
<p style="text-align: justify">Despite lagging behind other cryptocurrencies in price movement, <a href="https://en.bitcoinhaber.net/cardano-ada-price-hinges-on-crucial-support-and-resistance-levels" rel="noopener noreferrer nofollow">Cardano</a> has shown significant signs of increased network activity, with a notable rise in active addresses and whale transactions. Recent on-chain data indicates a sharp uptick in user engagement on the Cardano network, with active addresses reaching the highest count in the past year, signaling a possible trend towards wider adoption and imminent breakthroughs on the platform.</p>
<h2 id="active-addresses-climb-to-new-heights">Active Addresses Climb to New Heights</h2>
<p style="text-align: justify">An analysis of recent on-chain metrics reveals that the Cardano network’s active addresses have soared, nearly doubling since September of the previous year. This surge concretely demonstrates a growing user base and heightened engagement with the blockchain. For instance, data from Danogo exhibited a peak of 596,915 active addresses on March 11, surpassing the count from May 2023, and signaling an enthusiastic reception of the Cardano technology.</p>
<h2 id="february-marks-a-turnaround-in-engagement">February Marks a Turnaround in Engagement</h2>
<p style="text-align: justify">After a slump in January, data visualizations from Danogo show a marked rebound in active addresses as February concluded. Daily active addresses remained consistently above 50,000, with reports indicating a recent count of 66,970 active addresses within a single day. Moreover, a surge in high-value transactions suggests that major investors, or “whales,” are increasingly active on the Cardano network, with a substantial rise in transactions exceeding $100,000.</p>
<p style="text-align: justify">IntoTheBlock’s metrics have also captured a notable increase in whale transactions, with 6,810 large transactions recorded in just 24 hours, and an impressive $73.86 billion over the previous week. This formidable activity overshadows <a href="https://en.bitcoinhaber.net/franklin-joins-growing-list-of-firms-seeking-ethereum-etf-approval" rel="noopener noreferrer nofollow">Ethereum</a>‘s comparative metrics for the same period. Furthermore, statistics on <a href="https://en.bitcoinhaber.net/bitmex-co-founder-critiques-cardanos-performance-and-projects" rel="noopener noreferrer nofollow">ADA</a>‘s supply distribution show a significant concentration with whales, amassing around 60 million ADA.</p>
<h2 id="cardano-s-price-aims-for-a-dollar">Cardano’s Price Aims for a Dollar</h2>
<p style="text-align: justify">Cardano’s native token, ADA, has seen its value more than triple since hitting low metrics in September. While it has been trading at $0.79, up 42% from the last month, ADA is poised to retest the crucial $0.8 resistance level. A successful breach could propel the token past the $1 threshold, a feat not achieved since April of the previous year. The general market optimism bolsters prospects for ADA to surpass this milestone in the near future.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cardano-experiences-growth-in-network-activity-and-whale-transactions" rel="noopener noreferrer nofollow">Cardano Experiences Growth in Network Activity and Whale Transactions</a></h5>

Cardano Experiences Growth in Network Activity and Whale Transactions

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