Cardano (ADA) has been experiencing a persistent downside trend since the start of 2023; the selling pressure has increased in the past week. However, network development continues to grow and could hint at a reversal for the cryptocurrency.
Cardano (ADA) trades at $0.24 with sideways movement on its weekend price action as of this writing. In the previous seven days, the cryptocurrency recorded a 4%, with the potential for further losses if the price of Bitcoin continues on its current trajectory.
Cardano Price Bound For A Change In Trajectory?
Data shared by Cardano’s leading developer, Input Output Global (IOG), and seen on the chart below, shows that while ADA has been trending to the downside, network activity is on the rise, with 75.3 million transactions processed, 79,182 token policies, and over 1,250 projects currently building on the network.
As seen above, 144 projects have been launched on Cardano with over 8.8 million tokens. This network has been one of the fastest gro
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