Cryptheory: NFT, Play-to-Earn, Crypto News

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

ADA holders expect a price explosion – demand is growing due to low value

2 min read

Cardano (ADA) holders constantly accumulate because the native token is in a cheap price zone. In the current market structure, investors have taken advantage of falling prices. Since December 2019, the ADA has exploded to an all-time high $ 3 before entering a declining trend, influenced by the wider crypto market.

Despite the circumstances number of Cardano wallets it increased linearly in time. Since the beginning of February 2022, it has increased by 3.66%. Rising from 2,992,417 on February 1 to 3,101,997 on February 24, which represents a total increase of 109,580 wallets according to statistics Cardano Blockchain Insights.

ADA wallets.
ADA wallets. Source: Datastudio.google

It is interesting that since February 2022, a total of 4,565 new wallets have been added to the network every day. On February 4, overcame three million wallets.

This is what ADA metrics say

According to data shared by IntoTheBlock, ADA holders they were apparently unaffected by Russian military actions and their potential consequences. In fact, they kept piling up to the point that increased their position to more than 10 billion.

The company’s figures show that the plans accumulated more last summer, when the ADA price traded between $ 1.5 and $ 1. The data show that each time when the price dropped below $ 1, investors massively bought the drop. However, the Russian invasion of Ukraine, together with rising inflation, caused the price of the ADA to fall below that level. However, despite the decline, long-term holders continued to accumulate.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published. Required fields are marked *