The cryptocurrency market, in general, had a tough time in April. However, according to the latest data, the signal Cardano hit a record high in May. Reports indicate that ADA token purchasing activity has increased. The number of users has helped preserve this cryptocurrency for more than a year.
The growth of the Cardano cryptocurrency
The number of launches on the Cardano network increased significantly last month with a growth of 2.99%, the highest of 5.20 million in April. One of the reasons is the increase in the number of people who have maintained their ADA symptoms for over a year. So-called “long-term” users went from 529,000 in March to 679,000 in April.
CryptoCompare, a global independent cryptocurrency market data provider, reviewed the statistics of Cardano ecosystem developers. He came to the conclusion that the number of promises GitHub (task completed) has slightly increased for this cryptocurrency project. The figures show an increase from 5,623 in March to 5,723 in April. The total number of contributors remained stable at about 111 developers.
Is the ADA signal declining in other aspects?
Growth is never linear and so is this sign. Strangely enough, as the number of Cardano holders increases, user activity within the ecosystem has decreased. Activity fell sharply in April with a decline of more than 60% and users fell by more than 50%.
Also, the drop in the number of new users was about 60%. Delaying the enthusiasm around cryptocurrencies is certainly explained. After a crazy year 2021 and the price of bitcoin reaching up to $ 70,000, now is the time for correction.
In addition, although the traders increased term, as seen in the previous section, on the number of traders short-term by half.
Conclusion
So because of the multitude of positive activities like announcing new developments around the sign Charles Hoskinson, creator of Cardano, ADA seems to be heading in the right direction. The above statistics show that this cryptocurrency has a bright future in the cryptocurrency market.
Get a summary of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!
Emile Stantina
Interested in investment and financial markets after a business school in Chambéry, the passion for cryptocurrencies was evident. The blockchain is definitely the universal tool of tomorrow.
