The quantity and amount of significant transactions on the Cardano network have increased recently, according to the crypto intelligence portal IntoTheBlock. As a result, on Monday, there were 3,290 more transactions totaling at least $100,000 during the course of 24 hours. This rise had a total value of 22.87 billion ADA, or $8.89 billion, and a volume of 1.36 billion ADA, or $540 million.
Previously, on April 15, 4,950 transactions totalling 34.57 billion ADA, or $15.45 billion, reached a high point for Cardano’s huge transaction data. At $0.4617 per token, the price of ADA has risen to its highest level since September 2022 at that point.
The price of the ADA token, which drives the network, plummeted 16.5% since the start of last week, which led to an increase in the quantity and size of significant Cardano transactions. Due to this drop, the price of ADA reverted to the range of $0.42, where it has been trading all year, barely managing to climb above it two weeks ago.
The $0.3 per ADA level, below which the price of the token fell in the previous two years only following the collapse of FTX, might be thought of as the lowest border of this zone.
