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CryptoCompare: Cardano Long-Term Holders Grow 32%, Indicating Increase in ADA Accumulation

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.

Read Also: Charles Hoskinson: JPMorgan Does Not Own Any Critical Cardano Infrastructure

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.

CryptoCompare: Cardano Long-Term Holders Grow 32%, Indicating Increase in ADA Accumulation
Source: CryptoCompare

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).

Read Also: Cardano Fundamentals Are Indicating Bullish ADA Price in the Long Run

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.

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The data also reveals that the decentralized exchange SundaeSwap has lost about 16% dominance compared to the last seven days.


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Tobi Loba
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.
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