Cardano surpasses $1, with 71% of holders in profit as active wallets and network engagement drive ADA’s price momentum.
ADA trading volumes spike 131%, supported by increased active addresses, wallet activity, and rising utility across the Cardano blockchain.
Long-term holders shift positions, reflecting new trends in Cardano’s market and signaling potential sustained growth in the coming weeks.
Cardano’s ADA token has achieved a significant milestone, surpassing $1 for the first time in over a year. The price surge has been accompanied by increased investor confidence and heightened activity across the blockchain. ADA’s recent price rally reflects growing demand and utility within the Cardano ecosystem.
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Active Wallets and Addresses Fuel Growth
Data from Santiment shows that daily active addresses on the Cardano network spiked dramatically on November 22, nearing 94,000. This figure represents the highest activity in months, signaling rising user engagement.
Additionally, the number of active wallets interacting with the network has surged alongside ADA’s price movement. This trend indicates a clear correlation between higher wallet activity and the token’s performance, emphasizing Cardano’s growing utility and appeal.
Profits Surge, Reflecting Market Sentiment
Cardano’s Network Realized Profit/Loss reached an impressive $94 million during the most recent trading session. This indicates that a substantial number of investors capitalized on ADA’s price movements, underscoring a bullish sentiment.
Currently trading at $1.07, ADA has risen 24% in the last 24 hours. This surge has been accompanied by a 131% increase in trading volume, highlighting significant buying pressure. Moreover, the strong momentum suggests that ADA’s upward trajectory may continue in the near term.
Majority of ADA Holders Now in Profit
Metrics from IntoTheBlock reveal that 71% of ADA holders are now “in the money,” having purchased tokens at prices below the current level. Approximately 3.15 million wallet addresses have turned profitable, reflecting the impact of the recent rally.
Meanwhile, 16% of ADA holders remain “out of the money,” holding tokens bought at prices above $1.40. Notably, long-term holders have started shifting positions, either taking profits or repositioning for future market dynamics.
The combination of rising network activity, increased realized profits, and significant trading volumes underscores Cardano’s growing prominence in the cryptocurrency space. With its network utility expanding and investor confidence solidifying, ADA’s rally may indicate a sustained period of growth for the blockchain ecosystem.
