The number of active addresses on the Cardano blockchain is declining, it is at the lowest level in the last year

Blockchain Cardano begins to lose active addresses

Data published Santiment analytical platform, which also points out that social media sentiment has fallen to 4-month lows and that if the price of the ADA rises again, the FOMO is expected to return quickly.

Right now, the price of ADA is below $ 0.5 after rising to almost $ 1.6 in January. Although it is only 2 % lower than a month ago, it is still 64 % lower than a year ago and especially 85 % lower than the September 2021 maximum.

It is worth noting that the year 2021 coin started at a price of $ 0.18, much lower than the current one. Then it started to rise, so strong and very fast that during the first five months of last year it added an incredible +1100 %.

It has now been more than two and a half months since the price only falls, so it is not at all impossible to expect a rebound sooner or later. In addition, some good news began to spread that could move her, although this is by no means a matter of course.

Blockchain update from IOG

A few days ago, IOG announced a milestone in the development of the project, the new release of node 1.35.0. This is the last version tested before the new Cardano mainnet update, Vasil.

The report managed to bring the price back from $ 0.46 to $ 0.52, but in the following days the price has since returned below $ 0.5. Vasil is a highly anticipated mainnet upgrade as it will strengthen Cardan's capacity and performance. As the modernization of Vasil is part of the last phase of project development, Cardano will soon be operating at full capacity.

When launched and creates a strong demand for ADA, due to the use of new tools that will be developed on this blockchain, it could increase the market value of this cryptocurrency. So far, however, there are still very few active and widely used tools on Cardan. Suffice it to say, according to the data of the platform DeFiLlama is overall 27th among blockchains according to TVL (Total Value Locked) on DeFi platforms, behind Celo, Fusion, Moonbeam and Heco.

Theoretically, there are preconditions for another boom, although the future actually remains uncertain, because it all depends on how much this network will actually be used in the future.

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