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Staking activity on the Cardano network is gaining momentum 🤔🤔🤔
On October 2, the price of Cardano reached a 30-day high of $0.28. Onchain data suggests that the main driver of the growth was a significant increase in the number of ADA smart contracts locked.
The graph below shows that from September 27 to October 5, the indicator increased from 62.74% to 63.5%. Ecosystem participants may have reacted positively to the increased activity of the Cardano team in terms of network development in recent weeks.
Notably, 63.5% is the highest level of ADA staker activity since June 22, 2023. Given that more and more coins are withdrawn from circulation by owners, the price of the asset may gradually rise above the $0.30 mark.
Disclaimer: Includes third-party opinions. No financial advice. See T&Cs.
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