Advertisement
AD

Main navigation

Cardano Transaction Volume Exceeds 30 Billion ADA as Market Rebounds

Advertisement
Sun, 19/03/2023 - 14:23
Cardano Transaction Volume Exceeds 30 Billion ADA as Market Rebounds
Cover image via unsplash.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to IntoTheBlock, the volume of large transactions on the Cardano network this week returned to above 30 billion ADA. The last time this was seen was more than nine months ago, on May 31, 2022. A large transaction is defined as one that is greater than $100,000.

Advertisement

Related
Cardano (ADA) Whales Waking up, On-chain Data Signals Trend

It is important to note that it is the volume of transactions that has increased, while the number of transactions has remained within the standard values. If we convert these volume figures from ADA to dollar terms, we get an amount almost equal to $11 billion.

Cardano (ADA) price action and its consequences

Interestingly, on the same days that this local high in the index was reached, the price of ADA, Cardano's native token, showed high-amplitude price action. Thus, after rebounding 8% from the $0.3 per ADA level seven days ago, the price managed to rise by another 11% and then fall by 13% in the first three days of the new week.

ADA to USD by CoinMarketCap

Related
Cardano (ADA) Jumps 10%, Here's How Ecosystem Defied Market Turmoil

At the current price of $0.345 per ADA, however, the majority of token holders, namely 76%, continue to suffer losses. Only 861,060 addresses with ADA remain profitable, equal to 19.5% of the total. Finally, 4.45% of all 196,250 address holders are now at breakeven. For them to be underwater, the price of the Cardano token would have to fall below $0.337.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD