Cardano Exceeds 110 Million Transactions Amid Ongoing Bear Market
Cardano has reached an impressive milestone by exceeding 110 million total transactions, highlighting the blockchain’s ongoing expansion.
As per the latest data from Cardanoscan, the network has recorded 110.09 million transactions. This illustrates consistent adoption and active use across its ecosystem. Furthermore, nearly 22 billion Cardano (ADA) tokens are currently staked across 2,992 active stake pools, showcasing strong community engagement in supporting and safeguarding the network.
Despite the uptick in network activity, ADA’s market performance faces challenges. With a modest increase of 0.9% over the last day, the token is currently trading at $0.6811; however, it has witnessed a decline of over 11% in the past week.
In the last 24 hours, trading volume reached $541 million, marking an 8.5% increase. Although this indicates a rise in market activity, it does not necessarily translate to a bullish trend.
In the derivatives market, open interest has climbed by 2% to $818 million, and trading volume surged by more than 13% to $1.14 billion. This increase in leverage suggests a growing segment of traders are positioning themselves on ADA, likely anticipating heightened volatility or directional shifts.
From a technical analysis perspective, most momentum and trend indicators continue to point to a downward trend. ADA is currently trading below key moving averages, including the 10, 20, 50, and 200-day levels, all indicating that the bearish trend may continue.
The downward momentum is further supported by a negative moving average convergence divergence. With a relative strength index of 38, it suggests a bearish sentiment, although it hasn’t reached oversold levels yet. A further decline, potentially to the $0.65 range, could happen if the $0.67 support level fails. On the other hand, a short-term recovery might occur if the price rebounds and closes above $0.72.
In the meantime, development activity within the Cardano network remains steady. In late April, the Cardano Foundation released its 2025 Ecosystem Guide, which showcased practical applications across sectors like real estate and supply chain.
On April 20, Input Output Global announced a collaboration with BitcoinOS to implement decentralized Bitcoin (BTC) rollups on Cardano using zero-knowledge proofs, with execution expected later this year.
Additionally, Brave confirmed in May that it has integrated ADA support into its browser wallet, with the beta version now active. Most recently, on June 1, Wanchain introduced cross-chain routes to the Cardano ecosystem for transferring stablecoins such as USD Coin (USDC) and Tether (USDT). By the end of 2025, Cardano-native stablecoins, including USDA and USDM, are projected to launch.