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Cardano (ADA) is one of the most popular altcoins in the crypto market and has received a lot of attention from crypto investors despite its recent price movement.
ADA is the eighth-largest crypto asset in the world at the moment and has quite a significance. After surging as high as $0.8613 in the last 24 hours, the price has now dropped to $0.8084 (at the time of writing).
Here is a graph by CoinMarketCap to show the ADA price over the last 24 hours.
Even though the price has dropped the number of long-term Cardano holders has not. Instead, the number of ADA holders has seen an increase of 32%.
If you are also interested in stepping into the crypto space and want to invest in digital assets like ADA then make sure you choose one of the largest crypto exchanges in the market.
On the other hand, if you are looking to leverage trade Bitcoin up to 100x, sign-up on Bybit today. You can also use this link to claim a bonus on your first deposit.
Details About Cardano’s Long-term Holders
As mentioned earlier, the number of long-term Cardano holders has increased by 32.1% last month (February).
This number was previously at:
- 10.9% in January
- 5.78% in December
Cardano is one of the most prominent altcoins and has been accumulated by a large number of hodlers over time.
As per reports, the number of addresses holding ADA reached a new all-time high in February as it grew 5.9%. There was also a significant rise in cruisers, which was up 13.4% or 3.62 million addresses. With the increase in the number of hodlers, some areas of the Cardano network also saw some drops.
- The number of crypto traders on the network has dropped to 770,000 (25.2%)
- The number of daily active addresses on the network has dropped to 129,000 (20.6%)
- The number of monthly transactions on the Cardano blockchain fell to 2.73 million (28%) last month
The drop in monthly transactions has decreased due to the excitement of the SundaeSwap launch that faded. However, the doubtful macroeconomic environment persists.
On the bright side, the Whales who are interested in the popular altcoin ADA have been accumulating it to a great extent. This has increased these holdings to more than 40% so far this year.
The Cardano addresses that hold between 1 to 10 million ADA have seen an increase in balance to up to 12 billion ADA, which is a record and is worth more than $10 billion.
Despite the price fluctuations seen for Cardano, the altcoin has also been added as a base currency on Bitrue as it launches nine new trading pairs.
What to Know as a Crypto Investor?
As a novice crypto investor, there are a few aspects that you need to be mindful of before you begin investing.
There are numerous popular crypto assets in the market that include:
If you are new to crypto investing, it is important that you choose a digital asset first. Once you know which asset to invest in make sure you:
- Take a look at its price movement before investing
- Choose one of the most popular crypto exchanges
If you are looking to invest in digital assets such as Bitcoin or Ethereum you can click on SwissBorg or Kraken (U.S. citizens).
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