{"id":513979,"date":"2022-12-28T07:30:19","date_gmt":"2022-12-28T12:30:19","guid":{"rendered":"https:\/\/wncen.com\/?p=513979"},"modified":"2023-03-08T07:26:12","modified_gmt":"2023-03-08T07:26:12","slug":"cardano-ada-undervalued-on-chain-data","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/","title":{"rendered":"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So"},"content":{"rendered":"

Cardano is one of the altcoins that has been hit the hardest by the bear market. Created by former Ethereum co-founder Charles Hoskinson, the coin is 91.6% below its all-time high of $3.10, which was reached on September 1, 2021. Thus, ADA is performing much worse than its main competitor Ethereum. ETH reached its all-time high of $4.878 on November 10, 2021, and is currently about -75.4% below that level.<\/p>\n

However, according<\/a> to on-chain analytics service Santiment, there are early signs of a trend reversal. For instance, sharks and whales holding 100,000 to 10 million ADA have been accumulating aggressively over the past six weeks. As the analyst writes, there is currently a bullish divergence between price and whale activity.<\/p>\n

\"Cardano
Cardano’s balance of addresses<\/figcaption><\/figure>\n

A look at realized gains and losses also paints a bullish picture. According to the analyst, there are signs of seller exhaustion. “On every big price decrease there are fewer and fewer coins moving at a loss,” the analyst notes.<\/p>\n

\"Cardano
Cardano: Network Realized Profit\/Loss.<\/figcaption><\/figure>\n

Furthermore, the Santiment analyst says that Cardano (ADA) is facing a trading volume gap in the $0.19 to $0.26 range, where he expects the price to see “serious buying.”\u00a0<\/span><\/p>\n

\u201cBased on the things mentioned above, I believe price will increase in value. However, without any other data, it is difficult to accurately assess the validity of this analysis,\u201d the analyst concluded.<\/span><\/p>\n

Messari Research Assesses The Current State Of Cardano<\/h2>\n

An analysis of the state of the Cardano network was also published<\/a> yesterday by Messari. In the research, the company provides interesting insights into the growth of the network, but at the same time, how it is lagging behind its main competitors.<\/p>\n

Related Reading: Cardano Price Consolidates, When Should You Short Again?<\/a><\/div>\n

As Messari notes, Cardano experienced an increase in DeFi activity in 2022, with daily transactions leveling off at around 60,000 since the second quarter, which equates to an average of around 0.75 transactions per second (TPS).<\/p>\n

Cardano’s DeFi TVL was approximately $78 million at the end of the third quarter of 2022. With a market cap of $14.8 billion, the project has a market cap\/TVL ratio of 190, significantly higher than competitors Ethereum<\/a>, Solana, and Binance with ratios of 6, 17, and 10, respectively, Messari said.<\/p>\n

Despite its relatively late entry into the DeFi space, Cardano’s TVL ranks 30th, with Minswap, WingRiders, and SundaeSwap dominating the DeFi ecosystem with 52%, 20%, and 19% market shares, respectively.<\/p>\n

In the NFT space, Cardano is hosting 8,000 NFT projects<\/a> and 15 marketplaces but is only generating an average monthly volume of $6.8 million. This, as Messari notes, is a far cry from industry leader Ethereum, which has over $150 million in monthly volume.<\/p>\n

Related Reading: Cardano (ADA) Price Prediction: Downtrend Far From Over, $0.22 Still In Play<\/a><\/div>\n

According to the analytics firm, Cardano’s ethos of “building carefully and deliberately with extensive reviews” is one reason it forfeited a potential first-mover advantage with its proof of stake. According to Messari, the goal of the Hoskinson-led project must be to catch up with established ecosystems and capture market share in the near future.<\/p>\n

[…] its market cap and decentralization are ahead of most competitors. However, Cardano’s ecosystem is still far behind the competition despite its growth this year. Cardano’s goal in the near future will be to catch up to established ecosystems and take some market share.<\/strong><\/p><\/blockquote>\n

ADA Price Trapped In Downtrend<\/h2>\n

A look at the 1-day chart reveals that the ADA price has been in a downtrend<\/a> channel since August, which could spell further doom. At a current price of $0.251, the ADA price is as low as it was last in January 2021.<\/p>\n

To initiate an uptrend, ADA would first need to reclaim the 50-day moving average at around $0.30 in order to break out of the trend channel at around $0.34.<\/p>\n

\"Cardano
ADA price, 1-day chart<\/figcaption><\/figure>\n
Featured image from AnTa_ranga \/ Pixabay, Charts from Santiment and TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Cardano is one of the altcoins that has been hit the hardest by the bear market. Created by former Ethereum co-founder Charles Hoskinson, the coin is 91.6% below its all-time high of $3.10, which was reached on September 1, 2021. Thus, ADA is performing much worse than its main competitor Ethereum. ETH reached its all-time high of $4.878 on November 10, 2021, and is currently about -75.4% below that level. However, according to on-chain analytics service Santiment, there are early signs of a trend reversal. For instance, sharks and whales holding 100,000 to 10 million ADA have been accumulating aggressively over the past six weeks. As the analyst writes, there is currently a bullish divergence between price and whale activity. A look at realized gains and losses also paints a bullish picture. According to the analyst, there are signs of seller exhaustion. “On every big price decrease there are fewer and fewer coins moving at a loss,” the analyst notes. Furthermore, the Santiment analyst says that Cardano (ADA) is facing a trading volume gap in the $0.19 to $0.26 range, where he expects the price to see “serious buying.”\u00a0 \u201cBased on the things mentioned above, I believe price will increase in value. However, without any other data, it is difficult to accurately assess the validity of this analysis,\u201d the analyst concluded. Messari Research Assesses The Current State Of Cardano An analysis of the state of the Cardano network was also published yesterday by Messari. In the research, the company provides interesting insights into the growth of the network, but at the same time, how it is lagging behind its main competitors. Related Reading: Cardano Price Consolidates, When Should You Short Again? As Messari notes, Cardano experienced an increase in DeFi activity in 2022, with daily transactions leveling off at around 60,000 since the second quarter, which equates to an average of around 0.75 transactions per second (TPS). Cardano’s DeFi TVL was approximately $78 million at the end of the third quarter of 2022. With a market cap of $14.8 billion, the project has a market cap\/TVL ratio of 190, significantly higher than competitors Ethereum, Solana, and Binance with ratios of 6, 17, and 10, respectively, Messari said. Despite its relatively late entry into the DeFi space, Cardano’s TVL ranks 30th, with Minswap, WingRiders, and SundaeSwap dominating the DeFi ecosystem with 52%, 20%, and 19% market shares, respectively. In the NFT space, Cardano is hosting 8,000 NFT projects and 15 marketplaces but is only generating an average monthly volume of $6.8 million. This, as Messari notes, is a far cry from industry leader Ethereum, which has over $150 million in monthly volume. Related Reading: Cardano (ADA) Price Prediction: Downtrend Far From Over, $0.22 Still In Play According to the analytics firm, Cardano’s ethos of “building carefully and deliberately with extensive reviews” is one reason it forfeited a potential first-mover advantage with its proof of stake. According to Messari, the goal of the Hoskinson-led project must be to catch up with established ecosystems and capture market share in the near future. […] its market cap and decentralization are ahead of most competitors. However, Cardano’s ecosystem is still far behind the competition despite its growth this year. Cardano’s goal in the near future will be to catch up to established ecosystems and take some market share. ADA Price Trapped In Downtrend A look at the 1-day chart reveals that the ADA price has been in a downtrend channel since August, which could spell further doom. At a current price of $0.251, the ADA price is as low as it was last in January 2021. To initiate an uptrend, ADA would first need to reclaim the 50-day moving average at around $0.30 in order to break out of the trend channel at around $0.34. Featured image from AnTa_ranga \/ Pixabay, Charts from Santiment and TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":497900,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,12332,57231],"class_list":["post-513979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-cardano","tag-santiment"],"acf":[],"yoast_head":"\nCardano (ADA) Extremely Undervalued? On-Chain Data Suggests So<\/title>\n<meta name=\"description\" content=\"Cardano is one of the altcoins that has been hit the hardest by the bear market. Created by former Ethereum co-founder Charles Hoskinson, the coin is\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So\" \/>\n<meta property=\"og:description\" content=\"Cardano is one of the altcoins that has been hit the hardest by the bear market. Created by former Ethereum co-founder Charles Hoskinson, the coin is\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-28T12:30:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-08T07:26:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jake Simmons\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/realJakeSimmons\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Simmons\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/\"},\"author\":{\"name\":\"Jake Simmons\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\"},\"headline\":\"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So\",\"datePublished\":\"2022-12-28T12:30:19+00:00\",\"dateModified\":\"2023-03-08T07:26:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/\"},\"wordCount\":657,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667\",\"keywords\":[\"ADA\",\"Cardano\",\"Santiment\"],\"articleSection\":[\"Cardano\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/\",\"url\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/\",\"name\":\"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667\",\"datePublished\":\"2022-12-28T12:30:19+00:00\",\"dateModified\":\"2023-03-08T07:26:12+00:00\",\"description\":\"Cardano is one of the altcoins that has been hit the hardest by the bear market. Created by former Ethereum co-founder Charles Hoskinson, the coin is\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667\",\"width\":1200,\"height\":667,\"caption\":\"Cardano price\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\",\"name\":\"Jake Simmons\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"caption\":\"Jake Simmons\"},\"description\":\"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/wncen.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So","description":"Cardano is one of the altcoins that has been hit the hardest by the bear market. Created by former Ethereum co-founder Charles Hoskinson, the coin is","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/","og_locale":"en_US","og_type":"article","og_title":"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So","og_description":"Cardano is one of the altcoins that has been hit the hardest by the bear market. Created by former Ethereum co-founder Charles Hoskinson, the coin is","og_url":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2022-12-28T12:30:19+00:00","article_modified_time":"2023-03-08T07:26:12+00:00","og_image":[{"width":1200,"height":667,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg","type":"image\/jpeg"}],"author":"Jake Simmons","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/realJakeSimmons","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Jake Simmons","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/"},"author":{"name":"Jake Simmons","@id":"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028"},"headline":"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So","datePublished":"2022-12-28T12:30:19+00:00","dateModified":"2023-03-08T07:26:12+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/"},"wordCount":657,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667","keywords":["ADA","Cardano","Santiment"],"articleSection":["Cardano"],"inLanguage":"en-US","copyrightYear":"2022","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/","url":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/","name":"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667","datePublished":"2022-12-28T12:30:19+00:00","dateModified":"2023-03-08T07:26:12+00:00","description":"Cardano is one of the altcoins that has been hit the hardest by the bear market. Created by former Ethereum co-founder Charles Hoskinson, the coin is","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667","width":1200,"height":667,"caption":"Cardano price"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028","name":"Jake Simmons","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","caption":"Jake Simmons"},"description":"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So","url":"http:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/cardano-ada-undervalued-on-chain-data\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","cardano","santiment"],"dateCreated":"2022-12-28T12:30:19Z","datePublished":"2022-12-28T12:30:19Z","dateModified":"2023-03-08T07:26:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-ada-undervalued-on-chain-data\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-ada-undervalued-on-chain-data\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/cardano-price-news.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/cardano-price-news.jpg?fit=1200%2C667\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"cardano\",\"santiment\"],\"dateCreated\":\"2022-12-28T12:30:19Z\",\"datePublished\":\"2022-12-28T12:30:19Z\",\"dateModified\":\"2023-03-08T07:26:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/cardano-price-news.jpg?fit=1200%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/513979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=513979"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/513979\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/497900"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=513979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=513979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=513979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}