There has been an increase in the number of Cardano (ADA) long-term holders, considering the recent data and that of January 2022 and December 2021.
The number of long-term holders of the digital token ADA increased in February 2022 by 32.1% to 408,000, after growing by 10.9% in January and 5.78% in December. The steady growth recorded month after month indicates an increase in Cardano (ADA) accumulation by HODLers.
According to the Asset Report recently published by CryptoCompare, the number of addresses holding ADA surged 5.9% to attain a new all-time high in February, which can simply be attributed to the increase in the number of long-term holders. The number of traders on the Cardano network, which could be termed as short-term investors, dropped 25.2% to 770,000.
However, the report shows that the number of monthly transactions on the Cardano blockchain dropped by 28% to 2.73 million in February. The decrease is attributed to the fading of the excitement that came with the launch of the Cardano-based decentralized exchange, SundaeSwap.
Cardano (ADA) Total Value Locked (TVL) Hits $170.63 Million
According to the data shared by DeFi LIama, a decentralized finance on-chain data analytic platform, the Cardano network has recently attained another notable milestone in terms of total value locked (TVL).
Going by the data provided, at the time of press, Cardano (ADA) has reached a new all-time high of $170.63 million across all decentralized exchanges (DEXs). This represents an addition of about $33 million in less than seven days.
The data also reveals that the decentralized exchange SundaeSwap has lost about 16% dominance compared to the last seven days.