Cardano (ADA) has seen a surge in its network health, with a total of 4.261 million unique wallet addresses and a Total Value Locked (TVL) of 625.97 million ADA. Despite the crypto bear market, the Cardano network has seen a 6 percent growth in wallet addresses since April 1, 2023. However, the price of Cardano has dropped 33 percent during the same period, indicating investors are buying for long-term growth prospects.The cryptocurrency market is expected to continue attracting mainstream adoption in the coming months, as digital assets offer a safe haven without discrimination of geographical location. Cardano (ADA) is among the top ten most valuable digital assets and has a thriving DeFi ecosystem led by Dapps like Minswap, Indigo, Liquid, Djed stablecoins, and MuesliSwap.On average, the Cardano network has registered about 1,600 new wallet addresses per day since April this year. June 10 was the best day with the biggest amount of new wallet addresses created, recording about 4k, whilst July 18 was the worst-performing day with only one new wallet registered in the network.After suffering heavy losses during the 2022 crypto bear market, Cardano (ADA) has stabilized YTD with a notable support level of around 25 cents. Crypto experts believe Cardano’s price is well positioned to rebound towards its ATH again, however, it could turn catastrophic if the Cardano (ADA) bulls fail to hold onto the support level of around 25 cents.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | None |
| Companies | Liquid, Djed, Indigo, MuesliSwap, eToro, Minswap, FAC, FINRA |
| Currencies | Ethereum, Bitcoin, US Dollar, Cardano |
| Securities | None |
