Cardano (ADA) has dropped by 17% in seven days amid a decline in network usage. Whale holdings have also reduced in value which could precede selling.
saw its market capitalization surpass $40 billion for the first since since 2022. This growth came amid a massive rally that pushed ADA to a multi-year high of $1.32.
Going by past trends, ADA’s rally tends to coincide with rising DeFi activity. Therefore, if there is reduced usage, it could continue dampening the price outlook.Usage on the Cardano network has also recorded a notable decline, with the number of daily active addresses dropping to the lowest level in seven days.
The addresses holding between $100,000 and $1 million worth of ADA have seen their balances drop from $6.61 billion to $5.59 billion.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cavs improve to 17-1, stay perfect at home with win over RaptorsDonovan Mitchell and Ty Jerome scored 26 points apiece as the Cleveland Cavaliers improved to 17-1 and stayed perfect at home with a 122-108 win over the Toronto Raptors on Sunday night.
Read more »
17 people arrested following 18-month 'Project Champion' investigation into drug trafficking in Ottawa areaSeventeen people are facing charges following an 18-month investigation into the illegal drug trade operating in the Ottawa area.
Read more »
5 Things to Do in Vancouver This Week (November 12-17) -From a Bollywood-style heist film and live art crawls to satirical Broadway hits—here’s how to make your week unforgettable.
Read more »
Pentagon leak defendant Jack Teixeira faces sentencing, U.S. seeks 17-year prison termThe 22-year-old to appear before a federal judge in Boston for sentencing after pleading guilty to perpetrating what prosecutors call ‘one of the most significant and consequential violations of the Espionage Act in American history’
Read more »
Knife attack at a vocational school in eastern China leaves 8 dead and 17 injuredEight people were killed and 17 others injured in a stabbing attack at a vocational school in the eastern Chinese city of Yixing on Saturday, police say.
Read more »
Chiefs win 9th straight AFC West title, beating Chargers 19-17 on late field goalKANSAS CITY, Mo.
Read more »