While users wait for Vasil HardFork, here’s Cardano’s nearest future:

One of the most inexplicable things about the cryptocurrency market is that token prices are plummeting despite the steady increase in the number of wallets holding tokens.

According to latest data ADA, the number of wallets on Cardano Blockchain holding its own tokens on Cardano Blockchain Insights, has grown by over 70,000 in the last 30 days. This shows that an average of 2,000 wallets were created on the Cardano network in the last 30 days.

However, during this period, the token price Basil hard fork Scheduled for June 29, 2022.

You might ask, “What more should I know about the last 30 days?” Find the answer below.

There is no rest for ADA holders.

The price per ADA token has fallen significantly over the past 30 days. At $0.5245 at the time of writing, the token has fallen more than 40% in price over a 30-day period.

Despite the steady rise in the number of wallets holding tokens, the genocide that has plagued the cryptocurrency market over the past few months has made it quite difficult for ADAs to show growth in terms of price.

Source: CoinMarketCap

During the same period, the token’s market cap fell even further. ADA’s market capitalization, which was over $30 billion 30 days ago, has declined 43% to $17.24 billion at press time.

ADA 1650322800 1653173999 graph coinmarketcap 1

Source: CoinMarketCap

May 12 “Phenomena”

According to on-chain data over the past 30 days, the ADA token marked a significant development on May 12th.

May 11th On May 12th, the number of unique addresses that trade ADA tokens per day spiked, fixed at 118.93k. Daily active addresses trading tokens surged 31% on May 12th. However, the index for this indicator has since declined. At 26.5k at the time of reporting, daily addresses trading ADA tokens have decreased by more than 80%.

Cardano ADA 08.48.13 21 May 2022

Source: Santiment

Additionally, in the last 30 days, on May 12th, the trading volume of the Cardano native token surged. The trading volume recorded a peak of 2.79 billion, and then decreased by 97%, reaching 653.1 million at the time of the report.

Cardano ADA 08.55.12 21 May 2022

Source: Santiment

The whales also showed some movement on May 12th. For trades over $1 million, the ADA recorded a high of 311 trades on May 12.

However, this was followed by a steady decline pinning this number of whale trades to 32 at the time of record. Similarly, trades above $100,000 recorded a record high of 2,397 on May 12, while the number at the time of publication was on a downtrend to 145.

Cardano ADA 09.01.02 21 May 2022

Source: Santiment

As we consider the Vasil hard fork and the ADA token continues to benefit from a variety of public service Overall, a price retracement could be in the near future for the token.

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