Active addresses on the Cardano network jump as the price keeps dropping

The number of active addresses on the Cardano network has recently jumped from around 150,000 per day to over 480000, before plunging back to 200,000, according to available on-chain data.

The data, provided by Messari and first spotted by BeInCrypto, reveals that as the price of the native token of the Cardano network, ADA, went down, the number of active addresses suddenly surged.

As reported earlier, the number of Cardano addresses staking the cryptocurrency grew by over 100,000 in just two months as more investors are betting on the cryptocurrency and its ecosystem. Data shows there are $54.07 billion worth of the cryptocurrency staked across 2,931 active pools, representing over 72% of the ADA’s supply.

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