Hoskinson touched on volatile nature of crypto market
According to the creator of Cardano Charles Hoskinson, $5,000 worth of ADA purchased in January 2021 could be priced at $6,750 at the moment, which means an increase of $1,750. The creator of Cardano said this in relation to the timing of the market performance.
Hoskinson was responding to a Cardano user who said that he had purchased $5,000 worth of ADA in July 2021, which is now only worth $1,500. In this regard, Hoskinson touched on the volatile nature of the cryptocurrency market by saying, deadpan, “Markets go up and down.”
At the time of writing, Cardano’s ADA is trading slightly higher at $0.50.
As reported by U.Today, Cardano founder Charles Hoskinson said that cryptocurrencies had entered a bear market when questioned about the dull performance of ADA. Following bearish market conditions from the beginning of 2022, ADA has significantly underperformed this year after posting enormous gains in 2021. It is now 83.57% lower than the record high it attained in early September 2021 before the much-publicized Alonzo upgrade.
Cardano records 47 million transactions in July
A monthly summary of on-chain statistics has just been released by the Cardano Foundation. on-chain transactions has increased by 4.90% to 47 million. Transaction types included 49.3% simple transactions (pure ADA or ADA with token transfer), 23.6% metadata (without smart contracts), 15.4% smart contracts (without metadata) and 11.7% smart contracts (with metadata). Are included.
The number of native tokens issued on the Cardano blockchain is up 6.34% to 5.7 million, with 58,993 distinct minting policies. The number of Cardano wallets officially hit the 3.5 million mark while that of Plutus scripts neared the 3,000 mark.
Digital asset bank Sygnum has expanded its staking portfolio to include ADA, which currently ranks as the eighth largest cryptocurrency by market capitalization.