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Cardano [ADA] sees a decline in key growth metrics in Q4 2022

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House to over 1000 decentralized applications (dApps), a new report from Messari revealed that the leading Layer 1 blockchain Cardano [ADA] saw growth and some corresponding declines in Q4 2022.

Titled “State of Cardano Q4 2022,” Messari found that due to the unexpected collapse of cryptocurrency exchange FTX in November, there was a downturn in Cardano’s financial metrics like market capitalization and revenue, as well as activity metrics such as the count of active addresses and total value locked (TVL) on the network.

Nonetheless, despite the hit suffered by the entire market due to FTX’s fallout, Cardano logged increments in daily transactions count, dApp transactions, and engaged staking activity.

Read Cardano (ADA) Price Prediction 2023-24 Per the report, the 90-day period under review was plagued by a significant decline in Cardano’s revenue.

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