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Cardano Founder Highlights ADA Daily Active Address Growth

Cardano Founder Highlights ADA Daily Active Address Growth

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Cardano’s daily active addresses increase by 90%.

Recently, the number of addresses actively sending and receiving transactions on the Cardano network increased by almost 100%. According to a tweet shared by Cardano founder Charles Hoskinson, the number of daily active addresses increased by 90 percent.

Hoskinson commented on the huge spike in Cardano’s daily active talks:

It is worth mentioning that Cardano’s daily active talk has accelerated since the beginning of this month. By information about Messarthe network’s daily active address peaked at 116,249 on November 14, 2022, after hovering around 70,000 for most of this month.

Cardano’s massive increase in daily active addresses may surprise many, as ADA has shredded a significant portion of its value, like most cryptocurrencies. Year-to-date (YTD), ADA is down 76.2%. At press time, ADA is currently trading around $0.312, according to data from Coingecko.

The increase in daily active addresses may be because investors may see ADA’s low price as a perfect opportunity to improve their position in the asset class in anticipation of a bull market.

Cardano is growing despite low VC support

ADA is one of the cryptocurrencies expected to see massive growth in the next bull market. The project team has continuously released important initiatives to help Cardano rank among the top cryptocurrency projects.

In September 2021, Cardano released one of its most significant updates, the Alonzo hard fork, which brought smart contract functionality to the network. Less than a year later, Cardano’s development team launched Vasil hard fork improve network speed, overall usability and dApp development.

Moreover, last week Hoskinson revealed that A new project had been added to the Cardano ecosystem. The project, called Midnight, is a privacy-based blockchain that protects personal and commercial information.

Interestingly, the Cardano team has achieved these feats despite not having the backing of top venture capitalists. Remember that Hoskinson beat VC because it doesn’t support Cardano like other top crypto projects. A lack of VC support recently caused Ardana, a decentralized finance project based on Cardano, to halt development due to funding and schedule issues.

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