Cardano’s net network growth turned positive after a 50% increase in active users.
According to data from IntoTheBlock analytics, Cardano recorded a positive increase in net network growth signals, with active users increasing by 50% since the start of 2022.
The net network growth cited by IntoTheBlock provides a view of both user engagement and growth. In this regard, Cardano has recorded a 51.53 percent increase in daily active addresses (DAA) in the seven days since the start of 2022.
Daily Active Addresses (DAAs) are a useful way to monitor network activity over time. Therefore, DAAs can often be a leading indicator for price action. The demand for network usage can increase the demand for the native token of the blockchain. However, Cardano’s price is yet to reflect the recent growth in its network, and ADA is mostly affected by continued market sales.
At the time of writing, ADA was trading at $1.22, down 1.43%, according to data from CoinMarketCap.
Cardano Network Starts 2022 Strongly
The Cardano Foundation states that ADA exceeded the 23 million transaction limit in December 2021, with the number of Cardano wallets reaching 2.58 million. The report estimates about 274 projects actively operating on the network and more than 2.5 million local assets, of which more than 2 million are NFTs.
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