Cardano’s 110M Transactions: ADA Price Tanks, But Hey, At Least It’s Efficient!

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  • The DeFi and NFTs have propelled Cardano above 110 million transactions.
  • ADA price drops 12.84% to $0.6714, facing bearish technical signals. Yikes!
  • Nearly 22 billion ADA staked, because people love a good crypto gamble.

Well, well, well, folks, Cardano has just surpassed 110 million transactions! You read that right—110.07 million, to be exact. Thanks to DeFi and NFTs, Cardano’s blockchain has been doing more transactions than a caffeinated squirrel at a nut sale. But don’t get too excited about those numbers just yet—fees are still as low as your friend who constantly “forgets” to pay you back. Just 25 cents per transaction, so it’s no wonder developers are flocking to it like it’s a Black Friday sale.

Source- Cardanoscan.io

And how did Cardano get to this wild milestone? Well, decentralized finance, non-fungible tokens, and Web3 are leading the charge, with daily transactions now topping $684.6 million. That’s more money changing hands than in the “I forgot my wallet” excuse category. Oh, and Polygon is eating Cardano’s dust with more projects than you can shake a stick at (well, 2,002 projects, to be exact). There’s even something called BitVMX, connecting Bitcoin Ordinals to Cardano, which is sure to confuse even the most crypto-savvy person at your local bar. Is Cardano the new Ethereum or Solana? Maybe, but don’t hold your breath while waiting for it to become the next household name.

Bearish Signals Cloud Cardano Price Outlook

Let’s talk about the elephant in the room: ADA’s price is tanking. It’s down 12.84% to $0.6714, which, if you’re counting, is a few coins less than your lunch money. It’s not just the price—ADA is stubbornly hanging below all of its major moving averages, which is like showing up to a party and standing by the door because no one invited you. The technical indicators? Not so great. You might as well be checking your horoscope for positive signs at this point.

More traders are betting against ADA, like it’s a bad reality show, and they expect it to get worse. The liquidation map is glowing like a red light at a stop sign, and ADA-based derivatives have surged to $945 million in open interest. So, yeah, things are moving, but are they moving in the right direction? Probably not. Support near $0.60 is getting closer by the second, so keep your fingers crossed—or don’t. Whatever.

Oh, and here comes the SEC to add another layer of uncertainty. They’ll soon make a decision about whether to allow an ADA Grayscale ETN, which is like the crypto version of waiting for your parents to approve your first date. A no could trigger panic selling, but a yes might mean fresh buying—and who doesn’t love a little drama? Stay tuned for more exciting developments.

But don’t worry, Cardano still has some tricks up its sleeve. It’s got scalability, it’s got peer-reviewed development, and it’s got that elusive proof-of-stake thing going for it. Big investors have been buying ADA in droves (well, $289 million worth in the last 20 days). Despite all the chaos, Cardano’s ecosystem is growing, and that might just help it weather these short-term price swings. Just don’t bet your mortgage on it, okay?

And speaking of competition, there are still some big players like Solana and XRP making life a little difficult. But hey, it’s not like Cardano is completely out of the game. If it stays ahead technologically, it might just muscle its way into the top ranks. Or, it might not. Crypto is funny like that.

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2025-06-03 04:53