ADA Data Shows Uptrend In Every Category As Traders’ Expectation of Rally for Cardano Fuels Widespread Adoption

Cardano Data Shows Uptrends In Every Category.

Despite the underperformance of Cardano (ADA), its native cryptocurrency adoption has recorded a meteoric rise in recent times, as more enthusiasts still consider the asset class as the best buy in 2022. 

Cardano addresses by holdings and balances by holdings in different categories have grown significantly over the last 30 days. 

Growing Cardano Adoption

Data shared by Dan Gambardello, the founder of Crypto Capital Venture (CCV), who called ADA the biggest sleeping giant, showed that Cardano addresses holding between 0 and 1 billion ADA have been increasing at all levels in the past month. 

According to the data, Cardano’s addresses with 0 to 10 ADA rose 6.7%, 1,000 to 10,000 ADA holdings is up 8.73%, while addresses that own between 1 million to 10 million ADA, 10 million to 100 million ADA, and 100 million to 1 billion ADA are up 7.3%, 12.62%, and 18.18%, respectively. 

Similarly, balance by holding among addresses with 100,000 to 1 million ADA, 1 million to 10 million ADA, 10 million to 100 million ADA, and 100 million to 1 billion ADA have also surged 13.31%, 7.34%, 10.53%, and 22.3%, respectively. 

$ADA addresses by holdings & balance by holdings increasing in every category in the last 30 days.

A bullish storm is brewing.

Watch closely. pic.twitter.com/qQxraLNY6l

— Dan Gambardello (@cryptorecruitr) March 16, 2022

Traders Are Optimistic about ADA

Cardano’s growing adoption at all levels suggests holders’ optimism that ADA will definitely surge in value when the market stabilizes. 

Recall that ADA, which opened the year around $1.3, is down 38.1% and is currently changing hands at $0.81, according to Coingecko data. 

Traders still believe Cardano will embark on a massive rally this year, as the Cardano team lines up several projects that will be rolled out this year. 

At the top of Cardano’s list of upgrades is to better enhance the performance of its smart contract functionality, which made its debut on the network last year. 

Support for smart contracts on Cardano led to the launch of six decentralized exchanges on the blockchain, with more trading platforms currently under development and expected to launch this year. 

Cardano TVL Surpass $200 Million

So far, user activity across these decentralized protocols has been impressive, as the total value locked (TVL) across these platforms has surged more than 194x since the beginning of the year. 

At press time, Cardano TVL is valued at $207.19 million, with Gambardello teasing enthusiasts to expect more growth, saying: 

“Cardano TVL (Total Value Locked) hits $200 million. Next stop…$2 billion?.”