Cardano

Cryptocurrency

Cryptocurrency analysis firm Messari has published a detailed report showing that Cardano (ADA) has delivered impressive performance in the fourth quarter of 2023.
According to the report, Cardano's total assets locked (TVL) have seen a significant increase, increasing by 166% quarter-to-quarter (QoQ) and 693% year-over-year (YoY). This growth increased Cardano's TVL ranking from 34th at the beginning of 2023 to 11th at the end of the year.
The report also included that the value of stablecoins on Cardano increased by 37% compared to the previous quarter and 673% compared to the previous year.
The value of stablecoins on Cardano increased by 37% compared to the previous quarter and 673% compared to the previous year. While iUSD remains the market cap leader among stablecoins on Cardano, alternative solutions such as USDM are approaching mainnet launch, indicating a diversifying stablecoin ecosystem within Cardano, according to the report.
The price of ADA, Cardano's native cryptocurrency, increased by 127.2% from the previous quarter, significantly outpacing the 53.8% increase in the overall crypto market. This Q4 increase brought ADA's annual change to 145.2%.
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In November, the SEC once again claimed that ADA was a security, along with other assets such as SOL, ATOM, and NEAR, in a case involving cryptocurrency exchange Kraken. However, unlike the SEC filings in early 2023, this instance did not trigger a significant price swing in ADA.
The average transaction fee (in US dollars) increased by 50.4% from the previous quarter, from $0.10 to $0.15. Interestingly, the average transaction fee in ADA remained unchanged from the previous quarter, indicating that ADA's price movement was almost entirely responsible for the increase in US dollar terms.
According to the report, Cardano's average daily transaction number increased by 10.9% compared to the previous quarter, surpassing the 1.6% increase in the number of daily active addresses. The ratio of transactions to active addresses has increased steadily over the past year, indicating an increase in “power users.” The 4th Quarter Transaction/Active Address ratio was 1.60, increasing by 9.2% compared to the previous quarter and 45.0% compared to the previous year.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/cryptocurrency-analysis-company-publishes-report-for-cardano-ada-heres-how-it-performed/" rel="noopener noreferrer nofollow">Cryptocurrency Analysis Company Publishes Report for Cardano (ADA): Here’s How It Performed</a>

Cryptocurrency Analysis Company Publishes Report for Cardano (ADA): Here’s How It Performed

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