• The on-chain analysis of the Cardano network shows exciting positive trends, including an increase in active addresses, transaction volume, and staking activities.
• IntoTheBlock reveals that the transaction count and transaction volume have seen a steady rise since April 2021.
• Net inflow from major stakeholders has grown exponentially with 22% of addresses being profitable at present.
Cardano Network Promises Bright Future
Cardano is a public blockchain platform with advanced features like smart contracts and high-level scalability. On-chain analysis of the network demonstrates an array of optimistic indicators, such as increasing active addresses, rising transaction volumes, and growing staking activities.
Transaction Count & Volume Show Steady Increase
According to IntoTheBlock, Cardano’s transaction count has maintained its stability since mid-April this year with a 33.5% rise from its lowest point. The network’s transaction volume has also seen an impressive year-to-date surge of 205%, reaching 98,000 transactions in one day – a three month high.
Major Stakeholders Accumulate ADA
Net inflow from major stakeholders indicates an accumulation by whales with +1,510% growth over the last 30 days. Most activity is directed towards inflows rather than outflows; 22% of addresses are currently profitable while 73% experience losses at present price points.
Cardano Value Experiences Volatility
In spite of these positive trends on the Cardano network, ADA’s value remains volatile due to bearish market conditions. However, with further advancements in infrastructure and development such as proof-of-stake consensus upgrade Alonzo set for June 2021 launch – Cardano’s future looks bright.
Conclusion: Positive On-Chain Insights Promise Bright Future for Cardano Network
On-chain analytics provide insight into Cardano’s current performance; showing encouraging signs in areas like active addresses, net inflow from major stakeholders and profitability of addresses – all hinting towards a promising future for the blockchain platform despite recent market instability .
