If on-chain data is to be believed, Cardano holders will have to wait a while for the ADA price to rise.



The price of Cardano (ADA) has dropped by over 32% since the start of the year, according to data from CoinMarketCap. Even in the past few months, there has been no progress, and it seems doubtful that anything will change in the next few weeks either.



The negative prediction is grounded in an on-chain metric known as Mean Coin Age (MCA), which attempts to estimate the average age of coins. By averaging the purchase prices of all tokens on the blockchain, it finds out how long-term investors feel about trading. Prices are affected by large changes in the average age of tokens that are spent or purchased. If the age of a coin suddenly increases, it means that there has been a lot of trading. What this means is that the old coins are being transferred from their wallets to instruments with more liquid assets.


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