Despite Cardano’s Recovery, On-Chain Metrics Suggest ADA Prices Will Deflate

Even though Cardano surged more than 20% over the past few days, on-chain metrics are pessimistic about near-term prices for ADA. When looking at Cardano’s network growth, the bearish thesis holds. Since late July, the number of new daily ADA addresses has steadily declined. Roughly 25,000 addresses were joining the network on a daily basis around July 30. This number has dropped to 7,000 a day, representing more than a 70% drop. [caption id=”attachment_67932″ align=”aligncenter” widt…
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Author: toutiao