Important #Cardano statistic hits three-month slump as #XRP approaches settlement in SEC case - details
The newest on-chain stats show a 3-month drop in active addresses for Cardano (ADA). The score evaluates unique on-chain network interactions and is bad for Cardano. The number is 20,400, the lowest in 90 days.
Recent price declines indicate that this slowdown in network activity will influence ADA's pricing performance. Over the last month, Cardano's price has dropped 14.25% and in the past 24 hours, 0.51%. The CoinMarketCap price is $0.41.
Cardano also benefits from market sentiment. The Weighted Market Sentiment measures crypto asset market sentiment. Cardano (ADA) market sentiment is very low, suggesting its bearishness may continue.
A new SEC filing in response to XRP's additional authorization letter in their lawsuit has generated suspicion of a coming settlement. XRP argues against the SEC's $2B remedy demand in their additional authorization letter.
XRP references a comparable action that settled and complains the large difference in settlement terms in the letter. They claimed that TerraForm Labs' $420M civil penalty was merely 1.27% of their $33B total revenues.
XRP says this price is far lower than the SEC's demand and that, unlike TerraForm Labs, there is no fraud. XRP's Chief Legal Officer Stuart Alderoty previously said that the purported unregistered securities deal did not hurt investors.
Conclusion
An all-time active address fall and adverse technical indicators hurt ADA price movement, threatening Cardano investors and traders. XRP investors may cash out soon as the community expects a resolution in its XRP selling case.