- Cardano’s on-chain metrics confirm that the ADA Community will Remain Supportive despite Losses
- The price of Cardano has been slow to make a recovery since the 2017 drop.
- The Cardano community will remain supportive of the asset despite recent enormous loses for ADA.
The price of Cardano struggled in recent times. The coin has reportedly been slow to post any recover since it dropped dangerously in 2017. This has been the case despite the network’s major strides that began with the launch of Shelley. However, Cardano news today opens our minds to one fact in the whole debacle, Cardano’s on-chain metrics show that the network has an active community despite dwindling prices. It is obvious that the proponents of the coin have high hopes for Cardano’s future and the future of its ADA crypto.
While the majority of the media coverage on Cardano has focused on the network’s slow development pace, the Blockchain project has had an eventful recent months. The current era can potentially propel Cardano to new heights. Shelley, which will launch staking, will initiate its incentivized testnet launch coming days. IOHK, had a remarkable balance check before the network’s official snapshot, with Charles Hoskinson, the network’s CEO saying several bugs were been resolved.
The Future Remains Bleak for Cardano Price despite Pilot Projects in the Works
Many pilot projects are in the works for Cardano currently. The company recently launched a collaboration with New Balance. While this strengthened the community’s confidence in Cardano and its chief, Cardano’s price has barely reacted. The price of the network’s native cryptocurrency is down by more than 96% from its all-time high point. The situation is dire as ADA price has stagnant for several months. There is reportedly a steady volume of transactions bigger than $100,000 been completed in the network in the last three months apart from a few brief peak positions.
Cardano (ADA) Price Today – ADA / USD
In 2019, the sum of new addresses that have been entering the Cardano network vs the ratio of addresses that are leaving the Blockchain has been positive. A quarter of Cardano addresses have zero balances. Our Cardano news reveals that 49% have completed at least one transaction in the last 24 hours. ADA is surprisingly concentrated despite price slump. There are 42 addresses holding 40% of ADA’s overall circulating supply. Among the aforementioned 42 addresses, only 3 are trading actively. Despite the fact that metrics indicate a bearish market for Cardano’s ADA, such a huge number of holders is a sign that there is still confidence in the network.