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Home»ALTCOIN NEWS»What will happen to Cardano in 2024?
ALTCOIN NEWS

What will happen to Cardano in 2024?

By Crypto FlexsJanuary 2, 20243 Mins Read
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What will happen to Cardano in 2024?
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  • Cardano ended 2023 on a high note despite market volatility.
  • DEX volume has played a significant role in Cardano’s growth.

As 2023 comes to a close, Cardano (ADA) defied market uncertainty to finish the year on a high. But as 2024 approaches, questions remain about the ADA’s future trajectory.

numbers don’t lie

Cardano’s journey towards 2024 is marked by impressive statistics, boasting 4.5 million accounts and 1.36 million staked addresses.

The network supports a whopping 3,064 staking pools, contributing to a staking amount of 22.76 billion ADA, equivalent to 64.94% of the total supply.

In particular, the ADA.D indicator in early 2024 is 1.33%, surpassing the previous year and showing a steady upward trend.

Cardano statistics starting in 2024:
Accounts: 4.5 million
Staking address: 1.36 million
Pool: 3064
Staking: 22.76B / 64.94%
Reddit users: 689,378
2024 Ada.D 1.33%
2023 Ada.D 1.09%
2022 Ada.D 2.01%
2021 Ada.D 0.75%@RemindMe_OfThis Within 1 year https://t.co/70cIhrvX7O

— Rick McCrackn DIGI (@RichardMcCrackn) January 1, 2024

A key catalyst behind Cardano’s performance is the success of its decentralized exchange (DEX). In particular, Miniswap achieved remarkable growth, with trading volume surging 166.80% to $300 million.

A real yield reward of 252,963 ADA will be distributed to MIN token stakers, a 2.5x increase from the previous month. To enhance sustainability, we have reduced MIN’s daily emissions by 5%.

📊 Monthly stats are here!

Highlight👇

🔵 Volume increased BIG (+166.80%) to $300 million this month. $ snack and $ break.

🔵 Actual return rewards of 252,963 $ADA to distribute to $MIN Stakers (2.5x last month!)

🔵 $MIN Daily emissions decreased by 5%. pic.twitter.com/ji54mF3jNE

— Minswap Labs (@MinswapDEX) January 1, 2024

DeFi market

Despite these wins, Cardano faces stiff competition compared to other layer 1 blockchains in the DEX space. In terms of Total Value Locked (TVL) and DEX trading volume, Cardano lags behind platforms such as Solana (SOL) and Avalanche (AVAX).

Cardano’s TVL and DEX volumes have increased significantly in recent months, but achieving parity with other layer 1 blockchains still remains a challenge.

Source: Artemis

However, Cardano’s humanitarian efforts, such as With Refugees Stake Pool (WRFGS), a collaboration with Switzerland for the United Nations High Commissioner for Refugees (UNHCR), could play a pivotal role in the future of ADA and sentiment towards it.


Read Cardano (ADA) Price Prediction for 2023-24


As part of Cardano’s Global Impact Challenge, the WRFGS pool was launched with a 3.5 million ADA stake delegation from the Cardano Foundation.

AMBCrypto’s analysis of ADA’s price movements at press time shows the token was at $0.627144, reflecting a notable 4.61% growth over the past 24 hours.

Source: Santiment

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