Cardano (ADA) has a sizable audience as a third-generation cryptocurrency, a blockchain-based smart contract platform founded by Charles Hoskinson in 2015. Cardano claims to have more advanced technologies in scalability, sustainability and security than other blockchain projects. Working with a special Proof-of-Stake (PoS) algorithm called Ouroboros, Cardano offers faster transaction times with lower energy consumption.
The Cardano project has grown significantly, constantly releasing new features and updates throughout the development phases. Thanks to these developments, the platform has been adopted by a wider user base. The introduction of smart contracts, especially with the Alonzo hard fork update, played an important role in the growth of the project. Recently, Cardano’s total circulating supply has exceeded 30 billion ADA, reaching 34 billion ADA.
Cardano’s circulating supply exceeds 30 billion ADA
According to IntoTheBlock, the volume of large transactions on the Cardano network this week exceeded 30 billion ADA. It was last seen more than nine months ago, on May 31, 2022.
It is worth noting that while the number of transactions remained within the standard values, there was an increasing transaction volume. If we translate these volume figures from ADA in dollars, we see that there is an amount equal to almost $11 billion.
However, at the current price of $0.345 per ADA, the majority of token holders, i.e. 76 percent, continue to suffer losses. 861,060 addresses with ADA alone, equaling 19.5 percent of the total, remain profitable. Finally, 4.45 percent of 196,250 address holders are currently at the breakeven point. For them to be submerged, the price of the Cardano coin must fall below $0.337.