An ADA whale has revealed his observations as he tweeted that in recent times the dominance of has fallen significantly.
The Cardano investor took to his twitter page to decry that in the space of one year, the dominance of ADA has significantly declined from 4% to 2% and that of BTC has also declined from 52% to 42%.
The market dominance of a particular crypto is calculated by the percentage its quantity contributes to the total crypto market cap. Also, in the crypto space, there are two types of investors, the shrimp (holds 1 to 100) and the Whales (holds from 1000 upward).
The Cardano investor concluded his expression as he noted that the issue of the proposed crypto regulation which seeks to eradicate anonymity from crypto might be a game changer in the crypto space. Since it was released, the regulation remains one of the top trends in the crypto space.
No More Crypto Anonymity In Europe
A report has earlier confirmed that the European Parliament has eventually succeeded in their plan to forbid self-hosted wallets as the house recently voted in the movement to ban crypto anonymity. The amendment does not demarcate the quantity of transactions to be subjected to identity checks, hence every transaction must undergo identity checks before it is executed. Paolo Ardoino, an official at Tether, a crypto firm, expressed his disapproval as he believed this movement is a huge step back for human rights.
The Cardano Foundation has revealed its partnership with the Blockchain and Distributed Ledger Technologies (BDLT) Group. The crypto firm revealed that the relationship is formed to carry out a research that will explore different views on the various factors that questions the Cardano core values that include scalability, security and decentralized protocol.
Cardano Community keeps Increasing Against All Odds
Despite the depreciation in its price, the Cardano community continues to increase in number. Statistics have revealed that the network has recorded a new all-time high as the number of its registered and active addresses hit over 5 million. The massive influx of investors can be related to the significant increase in utility cases as a result of increase in the quantity of dApps and layer2 solutions created on the platform.
In March last year, the total numbers of functioning addresses on the network was calculated to be approximately 2.6 million. Meaning it has double its number. At the time of writing this article, at $1.05, Cardano had fallen by 3%. At this price, it has increased by 48% from its all-time low and has also decreased by 66% from its all-time high of $3.