Mathisen Marketing

Your Marketing Blog

Cardano: With the Vasil hardfork just days away, ADA shows no signs of recovery

Cardano: With the Vasil hardfork just days away, ADA shows no signs of recovery

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Cardano [ADA]in its recently published weekly development updatesthe ecosystem grew somewhat between the 9th and the 16th. September According to the report, 98 projects were launched in the blockchain during the review period. This was a 4% increase out of 94 projects launched online week before.

A two percent increase between September 9th and 16th, Cardano’s initial tokens grew to 6.1 million. In addition, since its launch, the total number of transactions on the blockchain was 50 million, an increase of 1% in the last week.

How can you ADA?

During the review period, the price of ADA fell by 1%, data from CoinMarketCap revealed. #8. the price of the largest cryptocurrency had peaked at $0.52 on September 10, after which it was beaten.

ADA has been in a tight range since August 20th. The lack of significant price action was due to the decline in the overall cryptocurrency market and the repeated postponement of the Vasil hardfork.

The update is due in five days, so one wonders if ADA will react to this important update in the same way as ETH reacted After the Ethereum merger.

At press time, after a 2.31% price rally in the last 24 hours, ADA was changing hands at $0.4765.

On-chain analysis

It is known that the number of daily active users is strongly correlated with the price event of a commodity. Since ADA rates were not significant between September 9 and 16, unique addresses decreased during the same period. According to Santimenti data, a 15% drop in ADA daily active addresses was recorded over seven days.

The asset’s seven-day market value realized value (MVRV) revealed that the average ADA holder registered losses last week.

Source: Santiment

After publication Ecosystem readiness for Vasil update Confirms Vasil update date, development activity has increased. At 383 at press time, Santimenti data showed a 2% increase in this metric since then.

Source: Santiment

In preparation for the hard fork, key stakeholders supporting ADA have increased coin accumulation over the past three months. The number of addresses with 10,000-100,000 ADA coins has increased by 7% in the last 90 days.

The index of ADA addresses with 100,000 to 1,000,000 ADA coins has also increased by 2% over the same period.

Source: Santiment

However, the larger whales with ADA of 1,000,000 and above seemed tired of the low price action. For this reason, they have gradually reduced their ADA holdings.

Source: Santiment



Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Source link

Leave a Reply

Your email address will not be published.

Latest Posts

  • Microsoft Leads $20M Strategic Round in Web3 Data Warehouse Space and Time

    Microsoft Leads $20M Strategic Round in Web3 Data Warehouse Space and Time

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Space and Time, a Web3-native data platform that leverages business logic through a cryptographic protocol called Proof of SQL, announced it has raised $20 million in a strategic funding round led by Microsoft’s M12 fund. Other participants in the round […]

    Read More

  • Bitcoin Exchange FTX Wins Bid To Buy Voyager’s Assets For $1.4 Billion

    Bitcoin Exchange FTX Wins Bid To Buy Voyager’s Assets For $1.4 Billion

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase – Ad – Cryptolender Voyager has been declared bankrupt and is now selling its assets to FTX. Things may finally be looking up for crypto lender Voyager after months of trying to stay afloat in the crypto market amidst the […]

    Read More