The recent economic plunge is making investors turn to crypto assets as a safe haven as Bitcoin remains one of the most profitable assets for the year.
Similarly, a number of altcoins in the market have been performing excellently with the like of Cardano (ADA), Chainlink (LINK), among others attracting users with mouthwatering gains in the last few months.
Having made over 48% gain in the last 30 days, Cardano (ADA) seems to be among the few altcoins attracting the interest of users in the market, available data confirms.
According to Cardano Explorer, the number of new active addresses on Cardano blockchain network has just surpassed its all-time high value.
The founder of the platform, a prominent member of the Cardano community, Cardanians.io, made the information available.
Cardanians.io explained that the number of new active addresses on the blockchain network has been increasing for some time now, this is conceivably due to the rise in investors’ interest in Cardano (ADA) cryptocurrency. He explained that the number of new active addresses has attained a new all-time after surpassing the 400,000 mark.
The prominent Cardano community member noted that there has been a lot of new users who are buying Cardano ADA. He added that this could be a very bullish and positive sign for the cryptocurrency.
While the upcoming mainnet launch of the Cardano Shelley continues to create ripples in the ecosystem especially due to the progress made by the Shelley testnet, Cardano (ADA) price has been witnessing a spike in recent times.
Last month Cardano surpassed Tezos on the market table to be ranked the 10th largest cryptocurrency after witnessing an extraordinary upsurge.
Although the cryptocurrency later fell off the 10th position after facing challenges from other altcoins, Cardano is at press time among the top 10 largest cryptocurrencies by market cap.
Cardano (ADA) Price Shines as Shelley Upgrade Nears
Shelley is one of the five basic developmental phases related to the Cardano project. Shelley is believed to set the foundation for future functionalities by building more on already made foundations, however the latest upgrade according to the Cardano team is aimed at decentralizing the network’s internal activities to make the Cardano ecosystem completely autonomous.
The upcoming Shelley upgrade which according to Cardano founder, Charles Hoskinson, scheduled to begin on June 30th, has notwithstanding created an upsurge in the ADA price. Hoskinson believes that the upgrade will make the asset’s blockchain network more decentralized and efficient.
Cardano (ADA), after been trapped down around the low range of 0.50 USD for about 30 days, began gaining traction towards the end of last month, shooting up from 0.55 USD to 0.65USD on May 29 and on June 5, the cryptocurrency had reached a one month high of 0.89 USD.
Nevertheless, after a slight price shed off, the cryptocurrency still maintains its level above the $0.8 level, and it is currently trading for $0.080837.
Meanwhile, it is worth mentioning that ADA staking rewards will be available as from August 18, a tweet by IOHK founder Charles Hoskinson has said.