Whales have accumulated a significant amount of ADA tokens in Cardano’s ecosystem, despite a decline in its price. However, indicators such as reduced token velocity and a decrease in the number of token holders suggest a pessimistic outlook. Staking, development activities, and NFT sales on Cardano have also seen declines. On the other hand, decentralized exchange volumes have grown, indicating a strong performance within the DEX sector. The overall lack of interest in Cardano’s ecosystem is reflected by a decline in Total Value Locked (TVL) in DeFi protocols.
AI Sentiment: Positive
