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Cardano's On-Chain Transaction Volume in Profit Spikes, but Price Rally Unlikely

July 4 (Cointime) - Cardano's on-chain transaction volume in profit has been higher than in loss in recent weeks, according to data from Santiment. However, this does not necessarily indicate a price rally as the altcoin has seen a decline in value by 22% over the last 30 days.

The decline in social dominance and social volume also suggests shifting market sentiments and decreased interest in the asset. For Cardano's price to correct upwards, its social activity and network activity must improve considerably, and its weighted sentiment must return to positive territory.

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