Number of Cardano ($ADA) Addresses Sets New Record of 5.2 Million

Even while activity on the Cardano ($ADA) blockchain dropped, the number of addresses holding the cryptocurrency increased to a new all-time high of 5.2 million in April. According to CryptoCompare’s latest Asset Report, the number of addresses holding ADA increased by 2.99 percent to 5.2 million last month, owing to growth in token holders from 529,000 in March to 679,000 in April, as well as a rise in cruisers from 3.84 million to 4.14 million. The number of short-term traders holding ADA fell 44.6 percent from 682,000 in March to 377,000 last month, according to the study. According to CryptoCompare, Cardano blockchain activity “took a huge knock in April,” with monthly transactions falling 62.2 percent to 1.17 million and average active addresses falling 57.7% to 52,000. Similarly, the number of new addresses added each day fell by 59.1% to 23,200. Meanwhile, average transaction fees on the cryptocurrency’s network increased by more than 100% from $0.42 in March to $0.91 in April. On the go On-chain data demonstrates that, despite the fact that activity has halted, most ADA holders are still acquiring. According to reports, retail interest in the cryptocurrency is “rapidly expanding,” and whales have just resumed an accumulating trend after selling off their holdings over a seven-month period in which they dumped a big amount of ADA on the market. After the cryptocurrency’s price fell to a 15-month low, whales and regular ...