Another coin is Cardano. Digital currency with higher development activity than other cryptocurrencies
On December 2, 2022, the data analytics company Santiment revealed that the Cardano network is among the best 30-day development activity networks. New updates may occur on the network.
In addition to the increase in development activity on the network, the floor price of NFTs on the Cardano network has also increased, with the floor prices of several NFTs rising to record levels. All-Time-High in the last few weeks.
Cardano’s journey was not strewn with rose petals.
Although the price of NFTs on the Cardano network has increased, But trading volumes have decreased, according to data from Opencnft. Cardano’s NFT trading volume is down 50.93% and the number of NFTs sold is down 19.35% over the last 30 days.
In the DeFi space of the Cardano network, Total Value Locked has increased since November 22 to $58.6 million and decreased by 1.37% between December 1 and December 2.
Cardano Network DApps are also experiencing a drop in usage, with data from DappRadar showing that Cardano Network DApps such as Miniswap and SundaeSwap are experiencing drops, with a 20.68% drop in Miniswap usage. In the last 7 days and on SundaeSwap , there was a reduction There was a 12% reduction in the number of active users over the same period.
Cardano in the other corner
Examining the On-Chain data, Cardano’s trading volume has dropped significantly over the past 1 month.
Since November 2, Cardano’s trading volume has decreased from $4.64 billion to $2.04 billion over the past month, and the Long/Short MVRV is negative.
This means that short-term Cardano players are still profitable. Long-term holders may need to wait for other signals before taking profits.
Source: Ambcrypto
