Cardano’s developer activity, measured by GitHub’s commitment, surged last month with the launch of the Decentralized Finance (DeFi) ecosystem, with the major cryptocurrencies Bitcoin ($ BTC) and Ethereum ($ ETH). Significantly exceeded development activities.
According to data shared by CryptoCompare, Cardano’s developer activity this year is more than seven times that of BTC, significantly higher than that of Ethereum with the launch of a decentralized financial ecosystem.
Last month, Cardano’s trading volume surged to $ 12.7 billion in a short period of time, more than double the Ethereum’s $ 6.3 billion trading volume. Activity on the Cardano network has skyrocketed over time, with the number of new daily addresses created on the cryptocurrency network soaring 167% on February 18. This is an indicator commonly referred to by on-chain analyst Ali Martinez. ADA. “
The price of ADA, along with other crypto markets, is actually skyrocketing in its volatility. Since the launch of SundaeSwap, its transaction volume and developer activity have skyrocketed. SundaeSwap accounts for 98% of the total locked to the DeFi ecosystem.
According to Binance Research data, Cardano’s contribution to GitHub surged last November prior to the launch of the mainnet. Since then, the number of addresses holding ADA has skyrocketed, reaching a record high of 4.53 million last month, according to CryptoCompare’s latest asset report.
The report details that the number of Cardano Hodler increased by 10.9% to 309,000 in January and the number of cruisers increased by 5.85% to 3.19 million. The number of traders on the network increased by 48.8% last month to over 1 million, after decreasing by nearly 30% in December.
In January, large ADA token holders more than doubled their cryptocurrency holdings by taking advantage of price cuts of more than 30%. According to the data, Cardano’s addresses with 10,000 to 1 million ADAs have increased by 113%, accumulating $ 53.6 million.
Disclaimer
The views and opinions expressed by the author or those mentioned in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading crypto assets carries the risk of financial loss.
Image credit
Featured image via pixabay
..
