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.

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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).

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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.

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