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).

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.

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

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The post CryptoCompare: Cardano Long-Term Holders Grow 32%, Indicating Increase in ADA Accumulation appeared first on Times Tabloid.

The data was revealed by CryptoCompare in the latest Asset Report. According to the report, the 4 million includes a drop in the number of traders holding the digital currency. The number dropped from 981,000 to 692,000, which was a 29.4% decline. However, long-term holders grew by 5.78%.

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The report states further that monthly transactions on the Cardano blockchain plunged 35.1% to 3 million in December, after hitting a new all-time high in the same month.

Also, the number of addresses on the Cardano network was down 36.1% from the previous month, with an average of 138,000 daily active addresses.

The slowdown in Network Activity Was Not Limited to Cardano (ADA)

According to the Asset Report published by CryptoCompare, the slowdown in network activity was not limited to Cardano (ADA), as rival blockchains, such as Ethereum and Solana experienced similar drops.

Read Also: Cardano Had Relatively Low Transaction Fees in 2021 Compared To Visa, Ethereum, Bitcoin, Stripe

Going by the report, the percentage of staked Cardano’s supply has also been declining over the last three months. The report says it’s now sitting at 70%.

The CryptoCompare emphasized the continued decrease in the average transaction fees on the Cardano network, which is a positive signal for the community. The transaction fees on the Cardano blockchain, which were averaging $0.38 in November, dropped to $0.33 on average in December. Whereas, the average fee was $0.69 in September 2021.

The Number of Smart Contracts on Cardano Blockchain about to Hit 1000 Mark

According to the data provided by Cardano Blockchain Insights, the number of smart contracts on Plutus, Cardano’s smart contracts platform, reached a milestone of 999 on 26th January 2022, putting it only 1 smart contract away from hitting the 1000 mark.

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As shared on the platform, Plutus Scripts’ graph represents real Plutus-based smart contracts on the Cardano blockchain, which was introduced as part of the Alonzo mainnet launch.

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The post CryptoCompare: Number of Addresses Holding Cardano (ADA) Hit All-Time High of 4 Million in December appeared first on Times Tabloid.