{"id":558522,"date":"2023-11-01T04:55:28","date_gmt":"2023-11-01T04:55:28","guid":{"rendered":"https:\/\/wncen.com\/?p=558522"},"modified":"2023-11-01T04:55:28","modified_gmt":"2023-11-01T04:55:28","slug":"cardano-experiences-decline-in-q3-network-activity-unraveling-the-root-cause","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-experiences-decline-in-q3-network-activity-unraveling-the-root-cause\/","title":{"rendered":"Cardano Experiences Decline In Q3 Network Activity – Unraveling The Root Cause"},"content":{"rendered":"

Cardano, one of the prominent blockchain networks, experienced a mixed bag of performance during the third quarter of the year, leaving investors and enthusiasts intrigued about its future trajectory. While certain metrics presented a less-than-stellar picture, there are emerging indicators that suggest the potential for a positive turnaround.\u00a0<\/span><\/p>\n

In this article, we look into Cardano’s Q3 performance, examining stagnant metrics, the impact they have had, and the potential price direction that could shape its future.<\/span><\/p>\n

Related Reading: Is Dogecoin Poised For A Big Leap? \u2018Promising\u2019 Indicators To Watch<\/a><\/div>\n

The Impact Of Stagnant Metrics<\/strong><\/h2>\n

In the realm of cryptocurrencies, metrics play a crucial role in determining the health and vitality of a blockchain network. Cardano’s performance in Q3, as shown in <\/span>Messari\u2019s analysis<\/span><\/a>, revealed some concerning trends, albeit not entirely bleak. The average transaction fee on the Cardano network, denominated in US dollars, saw a 29.9% decrease, dropping from $0.13 to $0.10, suggesting a reduction in the cost of network usage.<\/span><\/p>\n

\"\"Source: Messari<\/a><\/pre>\n
One of the more significant concerns<\/a> was the decline in daily active addresses. Between July and September, the average count of daily active addresses plummeted by 29%, from the 58,000 recorded during the year’s second quarter to 41,137. This decline raises questions about the network’s ability to maintain user engagement and activity levels.<\/span><\/p>\n
Fees denominated in Cardano’s native token, ADA, also fell by 3% quarter-over-quarter (QoQ), indicating that users may have been transacting with smaller amounts of ADA due to lower fees. Furthermore, the network’s revenue took a hit, falling by a substantial 30%, which could raise concerns about its overall financial stability.<\/span><\/p>\n
Related Reading: Artificial Intelligence Crypto Boom: What\u2019s Behind The Double-Digit Surge?<\/a><\/div>\n
ADA market cap currently at $10.161 billion on the daily chart: TradingView.com<\/a><\/pre>\n
Cardano\u2019s Chart Signals Optimism<\/strong><\/h2>\n
Amidst the stagnant metrics and challenges faced in Q3, <\/span>Cardano’s chart on TradingView<\/span><\/a> paints a different narrative, hinting at the potential for an upward momentum. The Relative Strength Index (RSI) for Cardano is on an upward trajectory, approaching the overbought territory. While this might typically be seen as a signal for a potential pullback, it should be considered in the context of Cardano’s recent price performance and external factors.<\/span><\/p>\n
The moving averages on the chart provide further cause for optimism<\/a>. After a period of sideways movement, the price appears to be making an effort to break above the long-term resistance trendline. This, combined with the formation of higher lows on the chart, creates a potentially bullish scenario, suggesting that Cardano may be gearing up for a significant price move.<\/span><\/p>\n
\"\"<\/p>\n
Source: Messari<\/a><\/pre>\n
Potential Price Direction<\/strong><\/h3>\n
As of the most recent data from <\/span>CoinGecko<\/span><\/a>, Cardano (ADA) is trading at $0.290817. In the last 24 hours, the price experienced a dip of 3.8%, while over the past seven days, it saw a 2.8% rise. These short-term price movements indicate a level of volatility and uncertainty in the market.<\/span><\/p>\n
Cardano’s performance in Q3 had its fair share of challenges, with stagnant metrics and declining user engagement. However, the positive signals on the trading chart and the potential for an upward momentum suggest that Cardano may be poised for a price breakout.\u00a0<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Shutterstock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Cardano, one of the prominent blockchain networks, experienced a mixed bag of performance during the third quarter of the year, leaving investors and enthusiasts intrigued about its future trajectory. While certain metrics presented a less-than-stellar picture, there are emerging indicators that suggest the potential for a positive turnaround.\u00a0 In this article, we look into Cardano’s Q3 performance, examining stagnant metrics, the impact they have had, and the potential price direction that could shape its future. Related Reading: Is Dogecoin Poised For A Big Leap? \u2018Promising\u2019 Indicators To Watch The Impact Of Stagnant Metrics In the realm of cryptocurrencies, metrics play a crucial role in determining the health and vitality of a blockchain network. Cardano’s performance in Q3, as shown in Messari\u2019s analysis, revealed some concerning trends, albeit not entirely bleak. The average transaction fee on the Cardano network, denominated in US dollars, saw a 29.9% decrease, dropping from $0.13 to $0.10, suggesting a reduction in the cost of network usage. Source: Messari One of the more significant concerns was the decline in daily active addresses. Between July and September, the average count of daily active addresses plummeted by 29%, from the 58,000 recorded during the year’s second quarter to 41,137. This decline raises questions about the network’s ability to maintain user engagement and activity levels. Fees denominated in Cardano’s native token, ADA, also fell by 3% quarter-over-quarter (QoQ), indicating that users may have been transacting with smaller amounts of ADA due to lower fees. Furthermore, the network’s revenue took a hit, falling by a substantial 30%, which could raise concerns about its overall financial stability. Related Reading: Artificial Intelligence Crypto Boom: What\u2019s Behind The Double-Digit Surge? ADA market cap currently at $10.161 billion on the daily chart: TradingView.com Cardano\u2019s Chart Signals Optimism Amidst the stagnant metrics and challenges faced in Q3, Cardano’s chart on TradingView paints a different narrative, hinting at the potential for an upward momentum. The Relative Strength Index (RSI) for Cardano is on an upward trajectory, approaching the overbought territory. While this might typically be seen as a signal for a potential pullback, it should be considered in the context of Cardano’s recent price performance and external factors. The moving averages on the chart provide further cause for optimism. After a period of sideways movement, the price appears to be making an effort to break above the long-term resistance trendline. This, combined with the formation of higher lows on the chart, creates a potentially bullish scenario, suggesting that Cardano may be gearing up for a significant price move. Source: Messari Potential Price Direction As of the most recent data from CoinGecko, Cardano (ADA) is trading at $0.290817. In the last 24 hours, the price experienced a dip of 3.8%, while over the past seven days, it saw a 2.8% rise. These short-term price movements indicate a level of volatility and uncertainty in the market. Cardano’s performance in Q3 had its fair share of challenges, with stagnant metrics and declining user engagement. However, the positive signals on the trading chart and the potential for an upward momentum suggest that Cardano may be poised for a price breakout.\u00a0 (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":558529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[84005,142,1144,12332,8686,4735],"class_list":["post-558522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada-price","tag-altcoins","tag-btcusd","tag-cardano","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\nCardano Experiences Decline In Q3 Activity - The Root Cause<\/title>\n<meta name=\"description\" content=\"Cardano, one of the prominent blockchain networks, experienced a mixed bag of performance during the third quarter of the year, leaving investors and\" \/>\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-experiences-decline-in-q3-network-activity-unraveling-the-root-cause\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano Experiences Decline In Q3 Activity - 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Experiences Decline In Q3 Network Activity – Unraveling The Root Cause","url":"http:\/\/wncen.com\/news\/cardano-experiences-decline-in-q3-network-activity-unraveling-the-root-cause\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano-experiences-decline-in-q3-network-activity-unraveling-the-root-cause\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a.png?fit=391%2C215"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada price","altcoins","btcusd","cardano","ethusd","price action"],"dateCreated":"2023-11-01T04:55:28Z","datePublished":"2023-11-01T04:55:28Z","dateModified":"2023-11-01T04:55:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Experiences Decline In Q3 Network Activity – Unraveling The Root Cause\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-experiences-decline-in-q3-network-activity-unraveling-the-root-cause\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-experiences-decline-in-q3-network-activity-unraveling-the-root-cause\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a.png?fit=391%2C215\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada price\",\"altcoins\",\"btcusd\",\"cardano\",\"ethusd\",\"price action\"],\"dateCreated\":\"2023-11-01T04:55:28Z\",\"datePublished\":\"2023-11-01T04:55:28Z\",\"dateModified\":\"2023-11-01T04:55:28Z\"}<\/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\/2023\/11\/a.png?fit=391%2C215","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558522"}],"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\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=558522"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/558529"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=558522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=558522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=558522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}