Analysts have studied the causes and consequences of the growth of Cardano quotations

Cryptocurrency Cardano ($ADA) is back in the spotlight after the coin’s value surpassed $1 amid the start of a new bull market. This important event is accompanied by an increase in activity on the blockchain network. More than 840 thousand transactions with a total commission of 279 thousand ADA coins have been recorded recently. The last time such indicators were observed in March 2022. According to researchers, in the early stages of its existence, ADA was mainly used as a speculative asset. However, since July 2022, there has been a steady increase in the number of holders of the cryptocurrency. This indicates increased confidence in the Cardano ecosystem, which demonstrates maturity and stability proven over the years. The current market capitalization of ADA is about 38.24 billion. This confirms significant investor interest in the project, which aims at long-term development of the blockchain infrastructure. Analysts note that the growth of on-chain activity can be attributed to the development of the ecosystem. Users increasingly use the blockchain not only for ordinary transactions, but also to participate in projects based on it. This strengthens Cardano’s position as a platform for decentralized applications and smart contracts. In

addition, the current dynamics indicates a possible continuation of the upward trend. According to researchers, if Cardano can maintain high activity and attract even more developers, the role of the project in the crypto industry will only grow.

Analysts emphasize that the increase in network activity and the number of users emphasizes the importance of Cardano against the background of steadily growing interest in next-generation blockchain solutions. This may set the stage for further evolution of the ecosystem in the coming months and years.