Large transactions volume on Cardano is above $10 billion again as ADA price bounces back
This week saw an increase in significant Cardano network transactions surpassing 30 billion ADA, according to IntoTheBlock. More than nine months ago, this was last noted on May 31, 2022. A deal that costs more than $100,000 is considered to be significant.
It’s important to remember that the volume has kept within typical norms even if there have been more transactions. This volumetric data from the ADA amounts to more than $11 billion in money.
Notably, on the days that this regional high in the index was reached, the price of ADA, Cardano’s native token, had high-amplitude price activity.
However, the price increased by another 11% before declining by 13% in the first three days of the new week after recovering 8% from the $0.3 per ADA level seven days earlier.
ADA/USD 4-hour chart | Source: TradingView
With the current $0.348, however, the bulk of token holders, precisely 76%, continue to incur losses. Only 861,060 ADA addresses – or 19.5% of the total – remain profitable. Last but not least, 4.45% of the 196,250 address holders are currently breaking even. The ADA price would have to drop below $0.337 for them to be underwater.
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