Over the past week, Cardano users have staked more than 157 million ADA tokens. The surge in activity came after the price of the eighth-largest cryptocurrency by market capitalization fell by more than 5%.
Blockchain analysis showed that since August 21, 2023, Cardano holders have staked a whopping $40.8 million worth of ADA tokens.
According to Cardano Blockchain Insights obtained through online tool Looker Studio, the percentage of ADA tokens in staking pools increased from 62.9% to 63.4% between August 21 and 28. Behind the growth of almost 0.5% is approximately 157 million ADA.
According to CoinGecko, since the beginning of the month, ADA has lost more than 16% of its value, and this week the token price has increased by 1.1%. If the price of Bitcoin continues to move upward, the token has a chance to improve its performance even further.
Data from Looker Studio also shows that from August 1 to August 28, the number of daily transactions on the Cardano blockchain dropped significantly, from 60,000 to just over 46,000. At the same time, the daily number of payments dropped by more than 42%, from 216,000 to 124 000.
The number of ADA wallets created per day was one of the few indicators that recorded a noticeable increase over the past week, increasing from 901 to 1,138 from August 21 to 28. Data from Coinglass showed that overall open interest in ADA perpetual contracts decreased by 2.2%. $ADA
