Cardano’s Active Addresses Increase By 417% In 2021
Cardano’s (ADA) explosive surge in 2021 has seen the underlying network record massive growth. Also, other metrics are growing including transaction count and active addresses. Based on the Coinmetrics crypto data intelligence platform, ADA’s active addresses have increased by...
Cardano’s (ADA) explosive surge in 2021 has seen the underlying network record massive growth. Also, other metrics are growing including transaction count and active addresses. Based on the Coinmetrics crypto data intelligence platform, ADA’s active addresses have increased by 417.81% between January 1 and April 28, 2021. That increase shows that there is growing interest in the asset.
The transaction count also increased by 382.84% for the same period. Recently, the Cardano blockchain has experienced huge interest alongside adoption, with ADA price gaining 660% in 2021 and reaching a new all-time high of nearly $1.5.
This rally has correlated with the whole crypto market, but the growth and development of the underlying Cardano blockchain have acted as the primary catalyst for a surge in price together with active addresses.
The active addresses are an integral metric to consider when determining the fundamental value of the general Cardano network. The daily active addresses provided a wider view of the Cardano network’s usage.
Cardano Benefits From ‘Mary Network Upgrade
After the ‘Mary’ protocol upgrade, Cardano has grown to become a multi-asset network similar to Ethereum. This development increases the confidence among investors since Cardano is now en route to realizing a dream of offering a robust, scalable, and extensively energy-efficient network.
ADA is mostly compared to ether since it is the native token of a network that enables the establishment and development of decentralized applications (dApps). In general, the upgrade has given Cardano a chance to benefit from the challenges caused by congestion on the Ethereum network.
The network development might spur ADA’s price to reach new levels as the network’s use cases and adoption grow. It is notable that these use cases that involve dApps will be crucial for the platform’s growth.
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