Cardano investors and stakeholders have reasons to be nervous as the network is seeing a 3-month low in active addresses, according to recent on-chain data. Meanwhile, the XRP community believes a settlement is imminent in the XRP vs SEC case. Investors can protect themselves by shifting their focus to assets that provide better security such as ETFSwap (ETFS).
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Cardano (ADA) suffers lowest dip in active addresses in 3 months
The latest on-chain data reveal that Cardano (ADA) is seeing a 3-month low in active addresses. The metric measures the amount of unique on-chain interactions performed on the network, and it does not look good for Cardano. The figure currently stands at 20,400, the lowest in 90 days.
This drop in network activity is bound to affect ADA’s price performance as recent numbers show a corresponding decline in price. Cardano price has seen a 14.25% decrease over the last month and a further 0.51% decline in the last 24 hours. The price currently sits at $0.41, according to CoinMarketCap data.
Another arrow in Cardano’s armor is the current market sentiment. The Weighted Market Sentiment measures the overall market sentiment toward a crypto asset. The current market sentiment toward Cardano (ADA) is overwhelmingly low and hints that Cardano’s bearish woes may persist.
XRP nears end of lawsuit with SEC
A recent filing by the SEC in response to XRP’s supplementary authority letter in their ongoing lawsuit has sparked speculation that a settlement decision will arrive soon. The supplementary authority letter submitted by XRP contains their arguments against the SEC’s earlier demand for $2B in remedies.
In the letter, XRP cites a similar lawsuit that ended in a settlement and laments the seeming huge disparity in settlement terms between both cases. They argued that the $420M civil penalty imposed on TerraForm Labs constituted only 1.27% of TerraForm Labs’s gross sales of $33B.
XRP laments that this price is significantly lower than what the SEC is demanding in its case and adds that, unlike TerraForm Labs, there is no evidence of fraud in XRP’s case. XRP’s Chief Legal Officer Stuart Alderoty had also pointed out earlier that XRP’s alleged unregistered securities trade did not harm investors.
Conclusion
The future looks bleak for Cardano investors and traders as the combined effects of an all-time active address decline and unfavorable technical indicators bear negatively on ADA price action. In other news, some XRP investors may be cashing out soon as the community believes a settlement is on the horizon in its ongoing lawsuit regarding the sale of XRP.
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