Cardano

April

<ul> 
 <li><strong>Cardano (ADA) has witnessed an increase of over 1700% in its on-chain transaction volume since late January.</strong></li> 
 <li><strong>Cardano (ADA) is trading at $0.2575, with a modest 0.87% increase in the last 24 hours.</strong></li> 
</ul> 
<p>Cardano (ADA), one of the <a href="https://thenewscrypto.com/cardano-founder-charles-hoskinson-clarifies-nft-stance/" rel="noopener noreferrer nofollow">leading blockchain</a> in the cryptocurrency market, is defying broader market trends as it experiences a remarkable surge in its on-chain transaction volume, with an increase of over 1700% since late January. Despite a comparatively gloomy market value when compared to its April highs, Cardano’s performance showcases the power of utility and social dominance in the crypto space.</p> 
<p>According to market intelligence platform Santiment, the surge in ADA’s weekly on-chain transaction volume underscores the blockchain’s <a href="https://thenewscrypto.com/hoskinson-defends-cardano-progress-against-online-criticism/" rel="noopener noreferrer nofollow">growing popularity</a> and adoption. This substantial increase comes at a time when the cryptocurrency market has witnessed volatility and fluctuations.</p> 
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 <blockquote class="twitter-tweet"> 
  <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> .<a href="https://twitter.com/Cardano?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Cardano</a> is still seeing rising <a href="https://twitter.com/hashtag/onchain?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#onchain</a> transaction volume despite its suppressed market value compared to its April local top. Utility plays an important role in any bounce, and this combined with adequate <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ADA</a> social dominance, is still promising. <a href="https://t.co/EbGxIN8wFd" target="_blank" rel="noopener noreferrer nofollow">https://t.co/EbGxIN8wFd</a> <a href="https://t.co/Y9SRtbXLFq" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Y9SRtbXLFq</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1698512462893486567?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 4, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>Santiment stated:</p> 
<blockquote class="wp-block-quote"> 
 <p>“Utility plays an important role in any bounce, and this combined with adequate $ADA social dominance, is still promising.”&nbsp;</p> 
</blockquote> 
<p>Furthermore, Cardano’s discussion rates remain indicative of high trader interest, reinforcing the notion that the crypto community continues to find value in the project.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-cardano-ada-price-track">Cardano (ADA) Price Track</h3> 
<p>However, it’s essential to note that Cardano’s (ADA) daily price chart currently shows a bearish trend. ADA’s price has fallen below both the 50-day and 200-day moving averages (MA), and the Relative Strength Index (RSI) stands at an oversold state, registering a value of 37.</p> 
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  <img decoding="async" src="https://lh3.googleusercontent.com/VZzvhe0KN2GL2HjWgaLt8LoHVohUHwecy3loeXrAjtDG7LQ1GLgcEB9e9ikZBwAZCYjbXUKKZA3DghdxOeUD9YCNpepb0sPUgCJePq8fm2APkNY-rs2xIYdPg77PoJz0GF_uRnhnwGsVLssWmMgY4jE" alt=""> 
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<p class="has-text-align-center">Cardano (ADA) Price Chart Source: <a href="http://TradingView.com" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)</p> 
<p>At the time of writing, ADA is trading at $0.2575, marking a modest increase of 0.87% in the last 24 hours. This price movement suggests that while Cardano’s utility and on-chain <a href="https://thenewscrypto.com/cardano-ada-pumps-with-increasing-whale-accumulation-reports-santiment/" rel="noopener noreferrer nofollow">activity</a><a href="https://thenewscrypto.com/cardano-ada-pumps-with-increasing-whale-accumulation-reports-santiment/" target="_blank" rel="noopener noreferrer nofollow"> </a><a href="https://thenewscrypto.com/cardano-ada-pumps-with-increasing-whale-accumulation-reports-santiment/" rel="noopener noreferrer nofollow">are growing</a>, short-term market sentiment remains challenging.</p>

Cardano’s (ADA) On-Chain Growth Shines Amidst Crypto Market Turbulence

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