The number of addresses holding Cardano’s ADA tokens increased 2.99% in April to a new record of 5.2 million amid increasing adoption.
Data from CryptoCompare shows that the number of holders reached 679,000 from 529,000 in March.
The report adds that the short-term traders reduced by 44.6% for 377,000 last month, with the user activity in the network also recording a decline.
Cardano’s monthly transactions dropped 62.2% to 1.17 million, with the average active addresses dropping 57.7% to 52,000. The average daily new addresses also plunged 59.1% to 23,200.
The network developer data shows that the number of GitHub commits have risen from 5,623 to 5,723 as the number of contributors remained at 111.
Cardano is currently facing bearish momentum, having tanked 7.66% in the past day and 12.55% in the past week to trade at around $0.68.