Cardano’s Steady Growth Amidst Market Shifts: What’s Next?

Over the past year, Cardano has maintained a steady number of addresses with a balance, hovering around 4.45 million.

While the last market cycle saw Cardano rise as a strong alternative to Ethereum, the current cycle presents challenges as attention shifts to newer platforms like Solana and Base.

Despite these hurdles, Cardano’s network activity remains resilient. The transaction count and active user base have held steady since April, reflecting a dedicated community that continues to support and engage with the platform.

This consistent activity suggests that while Cardano may not be attracting new users at the same pace as before, its existing user base remains robust and loyal.

Cardano’s on-chain metrics further underscore its strength. The network settles approximately $7.2 billion in daily on-chain volume, outpacing many other blockchain networks. This high transaction volume results in a notably low Network Value to Transactions (NVT) ratio of just 2.62, which could signal that $ADA is currently undervalued.

Cardano’s number of addresses with a balance has hovered around 4.45 million for over a year. Here's what's going on