Out an investigation from CryptoCompare shows that the adoption of the popular project Cardano (ADA) has risen sharply. This was evident from the number of wallets ADA owns, which is a all time high managed to make. This means that more and more hodlers whether companies have properly preserved their ADA over the years.

“The number of addresses with ADA grew by 2.99% in April to a record high of 5.20 million. This includes an increase in the number of hodlers from 529,000 in March to 679,000 in April. Short-term traders fell 44.6% to 377,000.” was described in the study.

This is of course good news for Cardano who has had some bad months in terms of price. Cardano’s cryptocurrency is at a price of $0.66 at the time of writing. This is down 78.5% from the peak recorded on September 2, 2021 of $3.10. ADA has also fallen sharply over the past seven days. The share price fell by about 15% during this period.

Other Cardano stats

If we take a look at the developer statistics of Cardano, or the work that developers do on Cardano, we see that this is also increasing. The research shows that the number of changes made through Cardano’s GitHub increased from 5,623 in March to 5,723 in April, while the number of contributors remained at 111.

However, the same study shows that user activity on Cardano is beginning to decline.

Activity on the Cardano blockchain took a big hit in April. Monthly transactions fell 62.2% to 1.17 million, while average active addresses also fell 57.7% to 52,000. Average daily new addresses saw a similar drop of 59.1% to 23,200

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