The Cardano Community Continues to Grow Despite Price Drop
The Cardano (ADA) user base has shown resilience and growth, even in the face of a decrease in the price of the native token ADA. Here are the key points:
– The number of new unique wallet addresses has increased by 6% since April 1, going from 4.02 million to 4.26 million as of August 29.
– The number of delegators has also grown by 30,000 during this period.
– On average, the network has seen a daily growth of 1,600 new wallets.
– June 10 witnessed the highest number of new wallet addresses created, with close to 4,000 in a single day.
– However, July 18 had only one new wallet registered, making it the worst-performing day.
– Despite the price of ADA dropping by around 35% in the same period, the growth in wallets suggests continued interest in Cardano.
– The current price of ADA is $0.26 per unit, with losses of 4.75% in a single day.
– The long-term performance of ADA could improve if the network and ecosystem continue to grow in utility and adoption.
– If Cardano manages to recover its previous all-time high market cap of $95 billion, one ADA could be worth close to $2.71.
In conclusion, despite the decrease in ADA’s price, the Cardano community remains strong and continues to expand. The growth in the number of wallets and delegators indicates ongoing interest in the project. If Cardano’s network and ecosystem continue to develop, it could lead to improved price performance in the long term.
Disclaimer: This content is for informational purposes only and should not be considered investment advice.
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