- Cardano’s $1 milestone marks rising investor confidence, with 71% of holders now in profit.
- ADA trading volume soared 131%, driven by active wallets and heightened network utility.
- Long-term Cardano holders shift positions, signaling potential new market trends and price momentum.
ADA has surpassed the $1 mark for the first time in over a year. This milestone highlights renewed investor interest and heightened activity within the blockchain ecosystem. Recent metrics reveal significant factors driving this price rally.
Active Addresses and Wallet Growth Spike
Santiment data shows a sharp increase in daily active addresses for Cardano. On November 22, the number of active addresses nearly reached 94,000. This was the highest figure recorded in months. The surge indicates growing utility and user engagement on the network.
Additionally, the number of active wallets interacting within the Cardano ecosystem has risen dramatically. This coincided with ADA’s price rally, suggesting a correlation between increased network activity and price movement.
Rising Network Profits Reflect Confidence
Cardano’s Network Realized Profit/Loss surged to approximately $94 million during the latest trading session. This metric underscores that many investors have profited from ADA’s recent price movements. The rise in realized profits aligns with the broader bullish sentiment in the cryptocurrency market.
ADA is currently trading at $1.07. Over the past 24 hours, ADA’s price has climbed by 24%, with trading volumes increasing by 131%. The heightened buying pressure suggests sustained momentum in ADA’s upward trajectory.
Source: Coinmarketcap
Majority of ADA Holders Turn Profitable
According to IntoTheBlock, 71% of ADA holders are currently in the money, meaning they purchased tokens below the current price. This equates to approximately 3.15 million addresses. Conversely, 16% of holders remain “out of the money,” with holdings bought above $1.40.
Long-term holders have also shown increased activity. This often signals profit-taking or repositioning by investors, which may drive further market dynamics.
The combination of rising active addresses, strong on-chain metrics, and positive price momentum continues to boost investor confidence. With consistent trading volume and network utility, Cardano’s rally shows signs of sustained growth in the coming weeks.
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