CryptoMediaClub
Sunday, June 8, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Cardano’s On-Chain Volume Skyrockets 1,700%: What’s Fueling the ADA Surge?

07.09.2023
A A
0
124
VIEWS
ShareShare

Cardano ($ADA), a leading intelligent contract network, is turning heads as its on-chain transaction volume has seen a phenomenal 1,700% increase since late January. According to Santiment, a prominent on-chain analytics firm, this spike is primarily driven by the utility of the blockchain. Moreover, despite ADA’s suppressed market value, the network’s utility is meshing well with a notable rise in ADA social dominance.

While ADA’s price has declined by 35%, the number of Cardano whale wallets holding 100,000 or more ADA hit a 16-month high last month, standing at 25,294. Consequently, Santiment suggests that this could indicate growing investor confidence, even in fluctuating market conditions.

Additionally, Cardano recently ranked third in development activity, trailing Polkadot ($DOT) and Kusama ($KSM). Significantly, development activity refers to the work done by developers in the past 30 days on the project’s public GitHub repositories.

In a post shared on the microblogging platform X, previously known as Twitter, a crypto analyst named Ali drew attention to ADA’s price history. He observed that between 2018 and 2020, ADA traded within a narrow range of $0.10 to $0.28 for 665 days, followed by a staggering 2,985% price surge. ADA appears to be stuck in a $0.46 to $0.24 range for 329 days. Hence, Ali suggests that if past trends hold, ADA could see another significant breakout around February 2024.

Santiment has also pointed out a similar surge in on-chain volume for XRP, the native token of the XRP Ledger. Specifically, XRP’s on-chain transaction volume has reached its highest since February, with key metrics indicating strong ecosystem development. For instance, the on-chain transaction volume touched 4.8 billion XRP, and the circulating supply reached 2.03 billion XRP.

In conclusion, Cardano’s dramatic rise in on-chain transaction volume, its ranking in development activity, and the surge in whale wallets suggest a promising future. However, investors should remain cautious and well-informed, as the crypto landscape is famously volatile. Whether or not Cardano can maintain this momentum is a question that only time will answer.

The post Cardano’s On-Chain Volume Skyrockets 1,700%: What’s Fueling the ADA Surge? appeared first on BitcoinWorld.

Share10Tweet6ShareSharePin2

Related Posts

TRUMP Memecoin: Eric Trump Announces Significant WLFI Investment Plan
Blockchain

TRUMP Memecoin: Eric Trump Announces Significant WLFI Investment Plan

07.06.2025
0

Skip to content

Read moreDetails
Accelerate: Sui and Dubai VARA Partner to Boost Crypto Startups

Accelerate: Sui and Dubai VARA Partner to Boost Crypto Startups

05.06.2025
Shocking Trump Crypto Confusion: Team Denies TRUMP Wallet, Hints at Real Project

Shocking Trump Crypto Confusion: Team Denies TRUMP Wallet, Hints at Real Project

04.06.2025
Pioneering Solana Dubai Collaboration with VARA Boosts Crypto Future

Pioneering Solana Dubai Collaboration with VARA Boosts Crypto Future

03.06.2025
Ethereum Foundation Announces Bold Restructure for Enhanced Development Focus

Ethereum Foundation Announces Bold Restructure for Enhanced Development Focus

03.06.2025
Load More
Next Post
Bitcoin’s Rise to Prominence: Expert Predicts Significant Increase in Wealth Allocation

Bitcoin’s Rise to Prominence: Expert Predicts Significant Increase in Wealth Allocation

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Friend.tech denies report that database of over 100K users was ‘leaked’

Friend.tech denies report that database of over 100K users was ‘leaked’

2 years ago
Shiba Inu’s Remarkable Performance: 35 Trillion SHIB Return to Profitability

Shiba Inu’s Remarkable Performance: 35 Trillion SHIB Return to Profitability

2 years ago
Telegram to Allow Book Taxi and Pay for It with Crypto

Telegram to Allow Book Taxi and Pay for It with Crypto

9 months ago
Sol Strategies Sets the Stage for Growth with New Validator Acquisition

Sol Strategies Sets the Stage for Growth with New Validator Acquisition

6 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Coinbase, BiT Global Settle Legal Fight Over wBTC Delisting

Deutsche Bank Explores Stablecoins, Tokenized Deposits in Digital Assets Push

Musk vs Trump: Why Did Bitcoin Fall… And Will It Fall Further?

Labubu Meme Coin Shows Brands Merging With Blockchain, But Will The Token Catch On?

Apple, X, Airbnb Plot Stablecoin Payment – Could Big Tech Ditch Card Fees for Onchain Settlements?

Switzerland to Swap Crypto Holder Data with 74 Countries Under the OECD’s CARF

Trending

Proof-of-Reserves: Is it applicable to MicroStrategy?
Analysis

Proof-of-Reserves: Is it applicable to MicroStrategy?

08.06.2025
0

The following is a guest post and analysis from Shane Neagle, Editor In Chief fromThe Tokenist. On...

Bitcoin Family Hides Crypto Seed Phrases Across Four Continents After Kidnapping Threats

Bitcoin Family Hides Crypto Seed Phrases Across Four Continents After Kidnapping Threats

08.06.2025
Bitcoin Price Prediction: Golden Cross Pattern Targets $150,000 Rally

Bitcoin Price Prediction: Golden Cross Pattern Targets $150,000 Rally

08.06.2025
Coinbase, BiT Global Settle Legal Fight Over wBTC Delisting

Coinbase, BiT Global Settle Legal Fight Over wBTC Delisting

08.06.2025
Deutsche Bank Explores Stablecoins, Tokenized Deposits in Digital Assets Push

Deutsche Bank Explores Stablecoins, Tokenized Deposits in Digital Assets Push

08.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz