Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano Adoption Now Fastest Since
June 2023:
Start Of New Rally?
Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano Adoption Now Fastest Since June 2023: Start Of New Rally?
by Keshav Verma
2 minutes ago
in Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano
0
On-chain data shows the adoption of Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano is now happening at the fastest
pace since June 2023, a sign that could be bullish for ADA s price.
Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano Has Registered An Uptick In New Addresses Recently
According to data from the market intelligence platform IntoTheBlock , the ADA
network has been growing recently. The on-chain metric of relevance here is
the New Addresses , which keeps track of the daily total amount
of Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano addresses that are coming online on the chain for the first time.
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Survive?
An address is said to be online on the network when it
participates in some kind of transaction activity. As such, the New Addresses
measure the number of ADA addresses that make their very first transactions.
When the value of this metric surges, it can be due to a number of reasons.
New investors joining the network and old ones who had sold earlier returning
can both contribute to a rise for the indicator. Existing users creating
multiple wallets for a purpose like privacy also lead to new address
generation.
In general, whenever the indicator goes up, all of these factors are at play
to a degree, so some net adoption of the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта could be assumed to be
taking place.
Now, here is a chart that shows the trend in the New Addresses for Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano
over the last few years:
The value of the metric appears to have witnessed growth in recent days |
Source: IntoTheBlock on X
As is visible in the above graph, the Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano New Addresses have seen a jump
recently, which implies a large number of addresses are being created on the
network. In fact, the influx of users is currently so high for the
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта that the indicator is sitting at the highest point since June
2023, almost a year and a half ago.
Historically, adoption has been something that has proven to be constructive
for digital assets in the long term, as a wider user base provides a stronger
foundation on which future price moves can build on. Thus, the latest trend in
the New Addresses could also be an optimistic sign for ADA.
The rise in the metric has come as the asset s price has witnessed a
rally beyond the $1 mark. Interestingly, despite the fact that the coin has
seen a cooldown from this high in the last few days, the New Addresses has
still maintained its upward trajectory.
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Sign?
It now remains to be seen whether this continued interest from new investors
would help turn Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano around in the near future, or if this adoption will
only bear fruit in the long term.
ADA Price
Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano has seen a significant retrace to the $0.91 level as the digital asset
sector as a whole has suffered a drawdown . Unlike some of the other top
coins, though, ADA is still printing a significant profit of around 24% for
the past week.
Looks like the price of the coin has been marching up for a while now |
Source: ADAUSDT on TradingView
Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com