Cardano’s development activity metric reveals that the network maintained healthy development levels in the last 12 months. This is despite the harsh downside that ADA experienced during the same time.
The network’s development activity dropped off to its lowest level during the holiday break but has since recovered. Another interesting observation about Cardano is that the tide is shifting in favor of daily on-chain transaction volume in profit as opposed to those in the loss. Transaction volume in loss dominated especially towards the end of the year while transaction volume in profit took over for the most part in January 2023.One key point to note is that transactions are relatively low now compared to their three-month highs. This reflectsNotably, ADA bears briefly regained dominance during mid-month but that was short-lived and now the cryptocurrency has achieved a new 2-month high.