According to a recent report by data intelligence firm Messari, Cardano and its native token, ADA, experienced a notable decline in the second quarter (Q2) of 2024, reflecting the broader downturn affecting the cryptocurrency market. Key performance indicators also showed significant decreases in various metrics.
Price Plunge, Market Cap Dips To $14 Billion
According to the report, ADA’s price plummeted 39.7% to $0.39, while its market capitalization fell by 39.4% quarter-over-quarter (QoQ) to $14 billion.
Messari noted that this decline was influenced by a slight increase in circulating supply, which accounted for the minor discrepancy in market cap figures. Consequently, ADA’s market cap ranking dropped from 9th to 10th place.
Transaction fees on the Cardano network, which are essential for processing transactions and covering storage costs, also suffered. Revenue in USD decreased by 44.3% QoQ to $0.74 million, while revenue measured in ADA fell by 28.0% to 1.60 mi
We współpracy z: https://www.newsbtc.com/news/cardano/cardano-ada-q2-digest-major-double-digit-decrease-across-four-vital-metrics/
