Cardano reached a 30% increase in 24 hours, showing a strong recovery after the crisis in China
At a time of altcoin recovery, Cardano (ADA) has reached 1,000,000 portfolios, and staking is likely to increase as rewards peak. Grid protection is expected to get higher as the volume of staking ADA increases and the price hits the $1.72 level, after rising more than 30% in less than 24 hours.
ADA’s trading volume increased 52% based on data from coinmarketcap.com. Although the price has fallen, the speed of portfolio creation is above 6,800 per day. It is likely that ADA holders can expect greater profitability.
Based on the chart above, the ADA price is basically at the same level as it was since early May 2021. After reaching a peak in mid-May, the price has consistently dropped. At the current price level, there is a drop in the concentration of big holders.
Only 24% of large investors have held ADA for more than 12 months, this could be due to low long-term ROI, or low volatility. This has changed since the beginning of 2021, and the profitability of holders is likely to increase after a sustained rally in prices.
Based on the graph above, after reaching a peak in active addresses, the number of active addresses dropped. However, it remains above its early 2021 level. The network had $86 billion in transactions last week and the impact on the portfolio of holders is largely positive.
Altcoin has withstood selling pressure for a while, and this at a time when few altcoins in the top 10 have positive investment flow. The network’s growth is 4.6%, and the 38% of investors who have held ADA for less than a month are profitable after the fall. The price is less than a week from its $2.24 ATH and is rebounding with high trading volume and increasing demand.
The impact of the ADA on portfolios has been largely positive since early 2021. The ROI since early 2021 is 31.85%, despite the drop after the bloodbath. Furthermore, the ADA is negatively correlated with the BTC and the BTC’s rangebound price is likely positive for the ADA’s long sustained price rally.