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Cardano’s blockchain is showing signs of real-world traction, a development that could help lift its native token ADA from recent weakness, according to Everstake, one of the network’s largest staking providers.
Everstake reported a sharp increase in on-chain use during the first three months of the year. Daily active addresses rose 1,464% to 12,000, while daily transactions surged 4,278% to roughly 120,000.
Analysts said the synchronized rise in users and activity suggests a genuine pickup in demand, which has historically led markets to reprice assets higher.
Despite the network’s activity gains, ADA is trading at a make-or-break technical level. The token has slipped back to $0.243, a zone that has repeatedly acted as a launchpad for price rebounds.
Analyst Ali Martinez said a relief rally toward the $0.30 resistance could occur if buyers can hold that floor. He added that a daily close below the level would signal a structural breakdown and could expose ADA to a deeper pullback, potentially toward yearly lows near $0.10.
Whales appear to be adding to their positions. Data cited by the report shows the number of Cardano wallets holding at least 10 million ADA increased 5.2% over the past nine weeks to a four-month high of $0.24.
The accumulation was described as a counterpoint to broader selling pressure weighing on altcoins.
As of press time, ADA is trading at $0.23883, up 0.96% over the last 24 hours, but still trailing the wider market. The decline was linked to a confirmed breach of key support levels and ongoing capital rotation out of smaller tokens, as the Altcoin Season Index continues to slide.
Sentiment has also been pressured by $291 million in outflows from Bitcoin exchange-traded funds on April 13.
Traders are focused on two nearby price lines. Holding above $0.22 could limit further damage, while a clean break above the $0.24258 pivot might trigger short-term buying.
For now, the report characterizes ADA’s near-term outlook as finely balanced, with stronger network usage offset by fragile price action.
