Cardano (ADA) Sees Increased Activity, But Price Remains Flat

Recently, previously inactive Cardano (ADA) coins were moved, coinciding with a surge in daily active addresses and increased trading activity.

Despite this, ADA’s price remained relatively unchanged over the past 24 hours, hinting that the coin movement might not indicate a bullish trend.

According to data from Santiment, ADA’s age consumed—a metric that tracks the movement of long-held coins—spiked to a seven-day high of 6.33 billion on Friday.

This is significant because long-term holders usually move their coins infrequently, and such movements can often signal upcoming market shifts.

Alongside the rise in age consumed, the number of active addresses trading ADA also increased. Santiment reports that 54,200 addresses were involved in transactions, marking the highest single-day activity since March 6.

However, while a rise in active addresses typically suggests a positive trend, the subsequent decline in ADA’s price following the age consumed spike indicates that a local peak may have been reached, suggesting a potential further decline for the coin.