Cardano （ADA） continues to demonstrate its strength with a daily on-chain volume exceeding $7.2 billion, positioning the network as a major player in the blockchain space, despite challenges in attracting new users.
Points
- Cardano’s on-chain volume surpasses $7.2 billion daily, indicating significant network activity.
- The network’s low Network Value to Transaction （NVT） ratio suggests that ADA might be undervalued.
- Cardano’s number of active addresses remains stable, though growth in new users has slowed.
- The percentage of ADA held by long-term holders has reached an all-time high, showing strong investor confidence.
Cardano （ADA）, one of the leading blockchain networks, has recently made headlines with its impressive on-chain volume, which now exceeds $7.2 billion daily. This substantial figure not only highlights the network’s active use but also positions Cardano as a key player in the broader blockchain ecosystem.
The data, shared by on-chain analytics firm IntoTheBlock, underscores Cardano’s utility and the strong demand for its services. Despite the broader market challenges and competition from other blockchains like Ethereum and Solana, Cardano’s on-chain activity remains robust, with significant transaction volumes flowing through the network every day.
One of the most notable metrics associated with Cardano is its low Network Value to Transaction （NVT） ratio, which currently stands at just 2.62. The NVT ratio, calculated by dividing the market capitalization by the daily transaction volume, is often used to assess whether a cryptocurrency is overvalued or undervalued. A low NVT ratio suggests that Cardano might be trading below its true market value, potentially making ADA an attractive investment opportunity.
In terms of network adoption, Cardano’s number of addresses with a balance has remained steady at around 4.45 million for over a year. While this indicates a stable user base, the growth in new users has slowed compared to previous cycles. This slowdown could be attributed to increased competition from newer platforms, such as Solana and Base, which have been gaining traction in the market.
However, despite the challenges in attracting new users, the percentage of ADA held by long-term holders has reached an all-time high, accounting for about 40% of the total supply. This trend demonstrates strong investor confidence in the long-term prospects of Cardano, with many holders choosing to retain their ADA rather than sell it, even during periods of market volatility.
Cardano’s ability to maintain a high level of on-chain activity, combined with the strong commitment of its long-term holders, suggests that the network is well-positioned for future growth. As the blockchain continues to evolve and implement new upgrades, such as the upcoming Chang hard fork, it could attract more users and developers, further solidifying its position in the market.
解説
- On-Chain Activity: Cardano’s impressive on-chain volume indicates a high level of network utilization, which is a positive sign for its long-term viability. The network’s ability to handle such large volumes efficiently could attract more institutional and retail users.
- Investor Confidence: The high percentage of ADA held by long-term investors reflects strong confidence in Cardano’s future. This long-term holding behavior suggests that many investors believe in Cardano’s potential to deliver significant returns over time.
- Market Position: Despite facing challenges in user growth, Cardano’s consistent on-chain activity and low NVT ratio suggest that it remains a strong contender in the blockchain space. Future upgrades and continued development could enhance its appeal and drive further adoption.