Cardano Hits 110M Transactions, but Looks Gloomy for Tomorrow! 😎

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Well, dash me hat! Cardano has stormed past the 110 million transactions mark, a rather jolly milestone in this blockchain bonanza. One might say it’s been quite the bustling beehive of activity—if only the bees were as productive as the crypto enthusiasts.

As we speak, the network has churned out a tidy 110.09 million transactions, according to the ever-reliable Cardanoscan. Quite the busybody, this blockchain—more active than a bear in a honey shop! And if that weren’t enough, nearly 22 billion ADA are tidily staked in 2,992 active stake pools, proving the community’s enthusiasm is as tight as Aunt Agatha’s corsets.

Alas, the market’s mood remains resigned, like Jeeves when Bertie has one of his harebrained schemes. ADA’s price has nudged up a whole 0.9% in the last 24 hours—trading at a miserly $0.6811. But don’t get too excited; it’s still down more than 11% over the week—more depressing than a rainy Sunday at Blandings.

And what’s this? Trading volume has hit $541 million, a sprightly 8.5% jump. More market chatter, but it’s about as bullish as a cat in a bath—some signs of life, but don’t bet your polo mallet on it.

In the world of derivatives, open interest has climbed 2%, reaching $818 million, while trading volume sprinted 13% to $1.14 billion. The clever clogs are betting more aggressively—probably hoping to catch a wave of volatility, or just trying to impress their friends.

Now, about the techy bits—most indicators suggest that ADA’s journey ahead will be as smooth as a gravel driveway. It’s trading below all those fancy moving averages (the 10, 20, 50, and 200-day levels)—which is a fancy way of saying, “Sorry, chaps, the trend’s pointing south.”

negative momentum is supported by a bearish divergence—like trying to walk a tightrope with a frowny face. The Relative Strength Index (RSI) is hovering at 38, not quite screams of oversold panic, but enough to make one reach for the smelling salts. If the $0.67 support crumbles, we might be heading for the $0.65 trough—further gloom, if you ask me. But stay hopeful; if ADA can swing back above the $0.72 mark, we might see a brief reversal—like a good turn at the main entrance.

Meanwhile, development on the network proceeds apace. The Cardano Foundation released its 2025 Ecosystem Guide, featuring real-world applications—think real estate and supply chains, as if the blockchain might actually do some practical work instead of just looking pretty.

On April 20th, Input Output Global announced a dashing collaboration with BitcoinOS to bring decentralized Bitcoin rollups via zero-knowledge proofs. The phew! implementation is expected later in the year—fingers crossed, and hold your cigars.

In other news, Brave browser has spruced up by supporting ADA in its wallet, making it as easy as pie for fans. And come June 1, Wanchain added cross-chain routes—allowing USDC and Tether to hitchhike from one chain to another. By the time 2025 rolls around, we’re expecting stablecoins like USDA and USDM to be as common as nodding acquaintances.

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2025-06-02 11:50