• The Cardano network has seen exciting positive trends in its on-chain indicators, including an increase in active addresses, growing transaction volume, and an increase in staking activities.
• IntoTheBlock reported that the transaction count and transaction volume have demonstrated a clear standout performance since the year’s commencement and have recorded a 33.5% rise from its lowest point mid-April this year.
• Whale accumulation of ADA has been on the rise with +1,510% net inflow over the last 30 days which indicates possible accumulation by whales.
Cardano Network Shows Positive Signs
The Cardano network is showing several encouraging signs in terms of its on-chain activity. With an increasing number of active addresses, rising transaction volumes, and increased staking activities, the future looks bright for the platform’s users.
Transaction Count & Volume Shows Steady Increase
As per IntoTheBlock’s report, the most notable upsurge is visible in transaction count and transaction volume which have recorded a 33.5% rise from their lowest point mid-April this year. Additionally, daily transactions have reached 98k at a three-month high recently indicating more users are using Cardano’s services than ever before.
Whale Accumulation On The Rise
Data also shows that there has been significant interest from major stakeholders with a +1,510% net inflow over the past 30 days signifying possible accumulation by whales. 22% of all addresses are currently profitable while 5% break even and 73% incur losses at current prices.
Cardano Price Prediction
It remains to be seen whether these positive trends will result in higher prices for ADA holders or not but it certainly paints a promising picture for those looking to move forward with their investments into Cardano ecosystem as well as other blockchain projects utilizing its advanced features like smart contracts and scalability solutions.
Overall, Cardano Network has shown some very exciting results on its underlying data which could spell good news for both investors as well as users of the platform looking to benefit from its smart contract capabilities and scalability solutions going forward into 2021 and beyond!