Cardano’s purchase activity has registered an uptick for a brief period of time, as noted by a Twitter user called “Pete”. Illustrating his point through a coinmarketcap chart, the user tweeted, “Someone is buying up. Just watch out for those corrections.”
He then wondered if those buyers are up for the long term or simply there for profit making- dumping them right after the Vasil upgrade.
On the other hand, the PoS blockchain’s Total Active Users count says otherwise as Cardano holders hit their 12-month low this week.
Data from the Messari chart revealed that the total active users on a daily basis slid from 234k in January to a mere 65k at press time.
Despite that, ADA continues to be in favor among the top 4,000 BSC whales, per data tracker WhaleStats. Here too the motives remain unknown.
Cardano also tapped a 268% year-to-date [YTD] surge in on-chain volume and a 16% increase on a month-on-month [MoM] basis data from Kraken Intelligence showed.
Kraken experts cited the launch of the network’s first decentralized exchange [DEX] SundaeSwap and metaverse gaming app Pavia as the reason behind the growth spurt.
Besides that, its developers have increased the programmable blockchain’s block size by 10% as projects on the ecosystem exceeded 1,000.
Kraken Intelligence also highlighted the euphoria surrounding the upcoming Vasil hard fork in ADA’s on-chain transfer volume growth.
The much-awaited hard fork remains one of the most talked about updates to date as it is touted to bring significant improvements to Cardano and its Plutus smart contracts.
Cardano Community Reacts To Mark Cuban’s Claims
In another news, Billionaire Mark Cuban made a stunning claim that Dogecoin has greater utility than Cardano in an interview, “I still think Doge has more applications available to it than ADA.”
Cardano’s founder Charles Hoskinson reacted by posting a “wave aside” GIF image in response to the remarks. Community-focused Twitter account, ADA Whale, too chimed in by saying it “was a factually wrong statement”
Earlier, Hoskinson emphasized the timing factor after a user criticized ADA’s price. Could these mysterious buying spikes anywhere be related to what Hoskinson envisaged? Only Time has the answer.