Crypto Crash, Cardano Crypto Holders (ADA) Even Soared

JAKARTA – The crypto market, which has experienced a price decline in recent weeks, has actually given Cardano an advantage (ADA). Despite the free fall in the value of cryptocurrencies, ADA is showing a significant increase in the number of holders.

ADA, one of the cryptocurrencies dubbed the Ethereum challenger has seen the ADA wallet rise to a new high. CryptoCompare reported that the number of addresses holding Cardano rose to a record high last month.

“The number of addresses holding ADA grew 2.99% to an all-time high of 5.20 million in April. This includes an increase in the number of fraudsters from 529,000 in March to 679,000 in April. Short-term traders fell 44.6% to 377,000,” the report said.

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Although the number of ADA holders has increased, user activity on the Cardano blockchain has decreased in April. ADA transactions in the same month fell 62.2 percent. ADA's active addresses also decreased by 57.7 percent. It didn't stop there, daily new addresses also decreased by 59.1 percent.

According to CryptoCompare's observations as quoted by VOI.id from Daily Hodl, regarding Cardano developer statistics, the company highlights that the number of GitHub commitments for the eighth largest crypto project has increased slightly from 5,623 in March to 5,723 in April while the total number of contributors has remained stable at 111.

At the time of writing, data from Coingecko shows that Cardano (ADA) is trading at IDR 10,102, a decline of 0.5 percent in the last 24 hours.