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The number of addresses holding Cardano ($ADA) rose in December to a new all-time high of 4 million. The number of holders has increased even amid a decrease in activity on the cryptocurrency network this month.
According to CryptoCompare’s latest asset report, the 4 million figure includes a significant decline in the number of traders holding cryptocurrency, which fell 29.4% from 981,000 to 692,000. The number of long-term holders rose 5.78% to 279,000 last month. .
CryptoCompare Assets report reports that monthly transactions on the Cardano blockchain fell 35.1% to 3 million in December after hitting a new all-time high in December. Similarly, the number of addresses on the network also declined, with an average of 138,000 daily active addresses, down 36.1% from last month.
The slowdown in activity was seen on several blockchains, not just Cardano, according to a CryptoCompare report: Solana and Ethereum also saw a decline. The percentage of Cardano supply that is listed on the exchange has been falling over the past three months and is now at 70%.
Cardano transaction fees, which averaged $0.38 in November, continued to decline in December and averaged $0.33. Last September, network transaction fees averaged $0.69.
Transaction volume on Cardano briefly surpassed that on the Ethereum blockchain ahead of the launch of the highly anticipated SundaeSwap decentralized exchange earlier this month.
This month, the first usable decentralized finance (DeFi) application called MuesliSwap was launched on the Cardano network. Its launch started without much hype, but it soon became very popular.
Cardano founder Charles Hoskinson said he believes projects like Cardano will become “as ubiquitous as the internet and used by billions” in the future. The Cardano network was a notable leader in the cryptocurrency market in terms of developer activity last year, followed by Kusama and Polkadot.
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