Cardano (ADA) has always been at the forefront of projects under the scrutiny and tracking of investors and developers. Even though ADA’s price movement has been relatively positive since last week, it seems to be struggling with sentiment issues for a while. Nevertheless, sentiment around Cardano could change shortly due to the latest updates planned on the network.
Cardano (ADA) Latest Developments
The Chang hard fork, planned to occur in the early months of 2024, is expected to create an impact on Cardano and increase network sentiment. Alongside the Chang hard fork, Plutus V3 will receive a significant upgrade, continuing the network’s development.
These upgrades will also introduce several key improvements for Cardano’s dApps and contribute to the blockchain’s interoperability.
As part of broader efforts to enhance the platform’s capabilities, Plutus V3 is expected to contribute to the development of Cardano’s infrastructure. The integration of these upgrades is thought to bring improvements for both developers and users on the Cardano network.
Lack of Activity on the Network
Despite the announcement of these developments and promises of new ones, the decline in network activity continues unabated. A look at the number of addresses transacting on the Cardano network reveals a significant drop from 57,000 to 37,000 active addresses in just a few days.
In addition, there has been a decrease in the number of transactions on the network from 79,000 to 65,000 at the time of writing, which also represents a decline. This decrease in activity could also negatively affect the overall stable structure of the Cardano ecosystem in the near future.
ADA’s Performance
ADA’s price performance over the last 7 days shows a 12% increase, but the last 24 hours have not been very promising. ADA experienced a 1% decrease over the last 24 hours and was trading at $0.5497 at the time of writing.
ADA’s transaction speed also showed an increase during this period. This suggests that ADA’s trading frequency has risen during this time. According to Santiment data at the time of writing, ADA’s speed was marked at 46,552.
