Cardano Fundamentals Are Indicating Bullish ADA Price in the Long Run

Despite the fact that the whole crypto market is tumbling at the moment, Cardano (ADA) has been singled out for criticism by some crypto pundits. Some are even questioning Cardano’s outstanding performance in relation to the transaction volume data provided by Messari.

However, some diehard supporters of the cryptographic project are optimistic that Cardano’s fundamentals are indicating bullish ADA price in the long run.

Fundamentals Say Cardano (ADA) Remains Bullish

A couple of hours ago, a passionate member of the Cardano community, Cardanians.io, charged ADA investors that are concerned about the current price trend in the market by sharing the data that shows that Cardano development is going as planned, which would impact ADA price in the long run.

According to the monthly on-chain stats shared by Cardanians.io, Cardano’s total value locked has risen tremendously, while the number of ADA wallets on the network surged by 12.24%.

Transactions, native tokens, and Plutus smart contracts are also on the increase, boosting the hope of faithful Cardano enthusiasts on the future of the leading proof-of-stake (PoS) blockchain.

Captioning the screenshot of the data, Cardanians.io tweeted, “All important statistics are growing. Don’t just watch the ADA price, but #Cardano fundamentals that will affect the price in the long run.”

Another supposed Cardano community member, who believe in the project also shared a similar opinion:

“Do you have any concerns about the price of o$ADA coins going down? Everything is falling because of the negative geopolitical situation. All the important Cardano fundamentals are rising. In the long run, everything is on track.”

Cardano (ADA) Keeps Outperforming Bitcoin and Ethereum

Meanwhile, Cardano is again leading Bitcoin and Ethereum according to the on-chain data shared by Messari. The PoS blockchain has reportedly handled an adjusted transaction volume of over $24 billion compared to Bitcoin’s around $14 billion.

At the time of filing this report, Cardano (ADA) is trading at $0.8694, with a relatively 2% price uptrend in the last 24 hours.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.