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Cardano (ADA) Shows Improved On-Chain Activity Despite Bitcoin ETF Rejection

Following the rejection of all seven spot Bitcoin ETF applications by the US SEC, the crypto market experienced a significant sell-off. However, Cardano (ADA) has shown improved on-chain activity, with weekly transaction volumes surging by 1,700% since late January.

Additionally, Cardano's DeFi ecosystem boasts over $15 million in stablecoins and more than $35,000 daily active addresses on its protocols. Despite short-term price challenges, Cardano's utility and continued trader interest suggest a promising outlook, potentially leading to a resurgence to its previous all-time high.

Bitcoin Bitcoin $98,659.11
+0.63%
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