Cardano recently saw a surge in daily active addresses, reaching over 52,000 on 5th September, the highest in five months.
recently garnered attention with its latest upgrade earlier this month. Despite the upgrade, the network did not see an immediate impact on price or activity. However, ADA’s active addresses have surged over the last three days, reaching their highest levels in months.Although this number dropped to around 39,400 the following day, it was still the highest since May. By the end of trade on 7th September, the active addresses had declined further to approximately 31,600.
The increase in active addresses might pave the way for greater utility and participation on the Cardano network in the coming weeks, signaling a renewed interest in the platform.daily chart shows that the asset is still in an overall downtrend, but it has seen some positive momentum in the last 24 hours.
If Cardano can maintain this current upward trend, it will mark the first time in two weeks that the asset has posted consecutive gains of over 2%. Should this momentum continue, it could signal a potential return to a bull trend for ADA.An analysis of Cardano’s Relative Strength Index shows that it remains below the neutral line, indicating that it is not yet in bullish territory.
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