1 August 2026
Cardano Is About To Celebrate Another Major Milestone
Cardano project is about to record 700,000 users on their subreddit as the number of wallets opened on the network exceeds 3.6 million.
The community is expecting 700,000th user joining the subreddit in about two weeks, which will make the Cardano network one of the biggest crypto communities on the site.
Twitter account, Cardano Insights, also shared that most users interested in the Blockchain are using outdated wallets with no support for decentralized applications, which became a major factor for the further development of the network.
Although the rising users on Reddit don’t reflect the positive sentiment of ADA traders or investors, but it is still a strong fundamental factor that indicates in the favor of the growth and rapid development of the network.
The project has witnessed fundamental growth but it is still failing to bring positive market performance to the table. ADA has lost 80% of its value since September and yet failed to enter a recovery rally.
During December to March period, Cardano made three attempts to break through the massive downtrend by entering a short-term 20-40% rally that should have become a catalyst for a retrace but failed to do so because of the massive selling pressure caused by the low profitability of the asset.
According to IntoTheBlock data, Cardano's profitability was very close to being one of the lowest in the Cryptocurrency market. As compared to ETH’s 60% profitability, ADA’s stayed below 15%, making it one of the worst performing digital assets.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
Discussion
0 comments