The number of active Cardano addresses increases as new use cases appear on the network
Following the overall growth of the network and the appearance of numerous use cases for Cardano, the number of active addresses on the network has grown significantly, according to Cardanoscan and DeFiLIama.
The number of active addresses on the Cardano blockchain has reached 162,000 and the total transaction volume on the blockchain has exceeded 30 million, while the total value of blocked funds is approaching $100 million. According to the service, most of TVL comes from SundaeSwap.
Second place in providing TVL is held by MuesliSwap, which currently holds $3 million in TVL. SundaeSwap currently holds $96 million in TVL.
Previously, Cardano developers announced the start of development of a proposal that would allow for changes and further development of Plutus.
Cardano’s market performance
While the fundamental value of the project keeps on growing every day with new use cases appearing on the market, the price of the underlying currency of the network is still undervalued.
According to TradingView, ADA is currently trading at $1.10 and not following the current altcoin rally, while only gaining 15% in value after losing almost 30%.
Since its all-time high, Cardano has lost more than 60% of its value, which put the absolute majority of holders of the coin into losses. At press time, only 19% of all Cardano holders are making money off their investment.
Sixty-six percent of traders who bought Cardano before are currently at a loss, while 15% are breaking even. Such a negative composition of holders is more likely related to the sharp increase in buying trends that the coin has reached.
