The Cardano (ADA) network witnessed a substantial growth of 186% in the number of retail traders. The growth was calculated from the wallet balances data of short-term holders. The amount of balances retaining the ADA asset for 30 days or less increased by 186%.
Retail traders’ significance in crypto market
According to data, short-term traders control 36% of the whole cryptocurrency supply. Such a significant spike in short-term interest might be attributed to both market and fundamental situations in which Cardano now finds itself.
Cardano rose 17% after Fed rate hike
Following the Fed’s 50 basis point rise in interest rates yesterday, a major chunk of the cryptocurrency market felt relief. It has resulted in an extraordinarily brief market bounce, with certain crypto assets rising up to 40% in a single day. Cardano (ADA) rose 17% in value as a result of the market recovery, giving some long-term investors optimism. The price spike may have attracted a huge number of regular investors looking for an entry point into digital assets.
Cardano fundamentals keep growing
Cardano’s progress in the crypto market is based on a huge and rich development process. In April 2022, the Cardano network reported $300 million in funds locked in multiple decentralised platforms and smart contracts. Currently, Cardano is waiting for the arrival of numerous decentralised solutions and initiatives, such as the Djed stablecoin. Djed will serve as a bridge between fiat assets and Cardano’s underlying coin.
 network witnessed a substantial growth of 186% in the number of retail traders. The growth was calculated from the wallet){kind=link}