Cardano Just Delivered Two Bullish Signals at TOKEN2049 as ADA Rebounds
Cardano’s daily active addresses were reported at about 27,500 on Oct. 7 and Oct. 8, after a new token standard launch. In the same period, the Cardano Foundation’s .ada domain application moved forward to the next phase, and ADA was described as rebounding even as the network activity stayed elevated.
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Users and builders on Cardano saw the network at a higher activity level on Oct. 7 and Oct. 8, with daily active addresses around 27,500. The .ada domain application moving to the next phase also matters to anyone watching Cardano’s naming and identity efforts, because it marks another step in that process.
It is not yet known from these pieces how long the elevated address activity lasts or what the next step in the .ada domain process will be. A later update on daily active addresses or on the domain application’s status would settle that part, but it is not given here.
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 9 days ago | Remittix Opens PayFi Testing to 1,000 Holders Before RTX Launch event | 1 actors in common · 2 news media |
| 10 days ago | CIP-0113 Programmable Token Standard Goes Live on Cardano Mainnet event | 1 actors in common · 13 news media |
| 15 days ago | Cardano Midnight (NIGHT) Rallies 86% as CTO Unveils Upcoming Upgrade event | 1 actors in common · 2 news media |