Cardano (ADA), the eighth largest cryptocurrency by market capitalization, has been rising steadily since the beginning of the year, reaching a high of $0.764 on March 2.
Cardano (ADA), the eighth largest cryptocurrency by market capitalization, has been rising steadily since the beginning of the year, reaching a high of $0.764 on March 2.
The number of active wallets, which refers to addresses that make one or more on-chain transactions on a given day, is one of the main metrics that show the health and growth of the Cardano network.
According In the block According to data, Cardano has witnessed an increase in daily active addresses since the beginning of the year, mirroring ADA price increases.
Another measure that indicates activity on the Cardano network is the number of transactions.
The total number of transactions increased by 3.1 million compared to the previous month, according to Input Output Global (IOG) Recently released February development highlights bring the total number of transactions to 85.8 million.
According In the block According to data, 37.26 billion ADA were transferred in large transactions totaling $27.61 billion in the last 24 hours. Since February 26, Cardano has seen a steady increase in large trading volume, indicating the total amount traded by whales. In this context, large transactions refer to those in which an amount greater than $100,000 was transferred.
According to the cryptanalyst AliThese network indicators suggest that Cardano (ADA) is not only experiencing a price uptrend but also a network uptrend as it is growing in terms of users, value, and utility.
In a new tweet, Ali noted that Cardano’s bullish trend appears healthy, noting a notable increase in daily active ADA addresses, trading volume, and ADA whale transactions. Ali believes this growing activity signifies strong network engagement and investor interest, as well as positive indicators for continued growth.
At the time of writing, ADA was down 2.69% in the last 24 hours to $0.71, reflecting overall market profit-taking, but up 20% in the last seven days.
As reported, the JAPAN4 block minted the 10 millionth block on the Cardano blockchain on March 1, marking an exciting milestone for Cardano and its community.
