According to Cardanoscan and DeFiLIama, there has been a significant increase in the number of active addresses on the network, with the overall growth of the network and the emergence of multiple use cases for Cardano (ADA).
The number of active addresses on the Cardano blockchain has reached 162,000. The total transaction volume on Blockchain has exceeded 30 million. The total value of the funds was one step closer to $100 million. The TVL in question is reportedly coming from the big SundaeSwap. TVL refers to the total value locked in decentralized finance projects with smart contracts.
Cardano developers announced a while ago that they are working on a proposal that will allow for changes and further development of Plutus.
According to experts, the core value of the project continues to grow with new use cases appearing in the market, but despite this, the price of the currency remains low. ADA, which was one of the most popular altcoins, especially for a certain period of 2021, later lost this reputation and suffered a serious loss of value.
Currently trading 60 percent behind its $3 peak, Cardano finds buyers at $1.20 according to CoinMarketCap data and ranks 7th between XRP and Solana in the list of the most valuable coins.
Looking at the data, 66% of investors who have bought Cardano since the last bull end are currently at a loss, and 15% are neutral. If the positive progress of the market continues, ADA is expected to strengthen its upward attacks.