Cardano witnessed a massive surge in activity but transactions on the network fell signifiicantly over the last few days.
witnessed a massive influx in overall activity in the last few days. Notably, the network successfully completed 250,000 payments in the last 24 hours. Its Daily Transactions also surged materially.However, Daily Active Addresses on the network fell, implying that there were only a few users who were responsible for the high number of transactions.One of the reasons for the surge in transactions would be the DEX volumes on the Cardano network.
At press time, ADA was trading at $0.3874 and its price had grown by 2.37% in the last 24 hours. Even though the surge in price was high, it wasn’t significant enough to reverse ADA’s current trend. For ADA to reverse this trend, it would need significant bullish momentum. The RSI was favoring ADA at 51.13, implying that bullish momentum around the token was high.
In a move to solidify its position, Cardano has unveiled a new upgrade – “docker-cardano-cli v8.24.0.0-1.”
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