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Cardano Hits 2,000 dApps Milestone But Whales Dump $170M Worth of ADA in Days
- Cardano has reached a milestone with over 2,000 dApps built on the network.
- 10.8 million native tokens have been issued, setting a Layer-1 record.
- Developer activity has increased by 33% week-over-week.
- ADA price has dropped by 4.63%, currently trading at $0.63.
- On-chain activity on Cardano is high with 138,365 Plutus scripts deployed.
- There have been 110.43 million transactions processed on the network.
- Developer contributions increased with 278 GitHub commits in the past week.
- 1,352 registered DReps are overseeing the network, showing a 0.44% increase from the previous week.
- The ADA price softening is attributed to broader crypto market weakness.
- Cardano's Total Value Locked (TVL) in DeFi approaches $300 million.
- Major ADA holders initially added 120 million ADA but later sold over 270 million ADA.
- This sell-off, worth over $170 million, led to a drop in ADA's price to below $0.62.
- Some analysts suggest ADA could fall further to around $0.50 if certain patterns are not broken.
- Geopolitical tensions and internal market dynamics may impact ADA's future price movements.
- Cardano's latest weekly development update is available on Essential Cardano.
- The development update covers core technology, wallets and services, smart contracts, scaling, and governance developments.
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