Over 3.2 million wallets were registered on the Cardano blockchain in Q1 2022.
The transaction prices for ADA have climbed by 51.5 percent year-to-date.
At the current price of $ADA, 82% of Cardano’s cryptocurrency owners are losing money. ADA’s price has been steadily falling since it peaked in November 2021 at $3.1 per unit and is now trading at $0.9715. Moreover, two weeks ago, 67% of Cardano (ADA) investors were in the red. In only a few days, this percentage has risen to 82%.
Only 3% of Cardano (ADA) owners are breaking even, and only 14% are profitable, according to the latest statistics from crypto analytics company IntoTheBlock. According to platform statistics, ADA was acquired by 76% of ADA token holders in the previous year, with 12% having done so during the last month. Only 11% of ADA token holders have held on to their tokens for more than a year, according to IntoTheBlock statistics.
Network Continues to Expand
Cardano’s network continues to grow, despite the price dip. Over 3.2 million wallets were registered on the Cardano blockchain in the first quarter of 2022, up from 186,000 in December 2020. In the first three months of the year, 453,000 ADA wallets were established, increasing to over 500,000. On average, 5,000 wallets were added to the Cardano network.
Santiment data shows that, even though the price of Cardano (ADA) has fallen from its all-time high, whales that possess over 10 million ADA tokens have “returned to their greatest share of supply held in two years” at 46.6%.
There are positive signs for Cardano’s ADA, as shown by Kraken’s March 2022 crypto on-chain digest, which states that its demand has been increasing over time. According to Kraken’s study, the transaction prices for ADA have climbed by 51.5 percent year-to-date, from $0.33 per transaction.