Cardano Dominance Drops, This Might Be Gamechanger, According to ADA Whale

Cardano

Cardano dominance has declined from 4% to 2% in the past year

As one notes ada whale, Bitcoin’s dominance fell from 52% to 42%, while Cardano’s dominance fell from 4% to 2% over the past year. Cardano dominance refers to the measure of the share of the total cryptocurrency market capitalization made up of Cardano, while a whale refers to a large holder of a particular cryptocurrency.

The Cardano user believes regulation might be a gamechanger for the cryptocurrency market. Regulation continues to be among the most discussed topics in the crypto industry.

As previously covered by U.Today, the European Parliament’s plan to crack down on self-hosted wallets became a reality when the European Parliament voted to ban anonymity in crypto. The draft amendment does not, however, specify any lower limit for crypto transfers, which means that all will be subject to identity checks. Some crypto proponents see the amendment as a ban on anonymity in crypto, with Tether CTO Paolo Ardoino describing it as a “big step backwards for human rights.”

The Cardano Foundation recently announced its research collaboration with the Blockchain and Distributed Ledger Technologies (BDLT) Group at the University of Zurich. The research seeks to explore different angles on the core questions surrounding Cardano as a secure, scalable and decentralized system.

Cardano network continues to grow despite changing prices

The Cardano network recently reached a new milestone with over five million addresses operating on the network with a 48% increase since the start of the year. The sharp increase in the number of users correlates with the growing number of dApps and solutions on the network, showing the fundamental growth of the network.

Back in March 2021, the number of addresses on the Cardano network totaled around 2.6 million. At the time of publication, ADA traded down 3% at $1.05. At its present price, ADA remains down nearly 66% from its all-time high of near $3.

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