• Cardano users have staked more than 157 million ADA worth $40 million over the past week.
• The surge in staking activity can be attributed to a significant decline in ADA’s price.
• ADA has lost more than 16% of its value since the beginning of August 2023.

Cardano users have staked more than 157 million ADA over the past week. The surge in staking activity came after a decline of more than 5% in the world’s seventh-largest cryptocurrency by market capitalization. On-chain data shows that Cardano holders have staked a whopping $40.8 million worth of ADA since August 21, 2023.

According to Cardano Blockchain Insights obtained from Looker Studio, the percentage of Total ADA Staked went from 62.9% to 63.4% between August 21 and August 28. The nearly 0.5% increase in the metric represented approximately 157 million ADA staked by the blockchain’s users during this period.

As per CoinMarketCap, ADA is currently trading at $0.26, which would value the newly staked tokens at more than $40 million. ADA has lost more than 16% of its value since the beginning of the month, going from $0.31 to as low as $0.25 earlier this week. However, this price decline likely …

The post Cardano Holders Stake $40M Worth of ADA Following Price Decline appeared first on Coin Edition.

• Cardano users have staked more than 157 million ADA worth $40 million over the past week.
• The surge in staking activity can be attributed to a significant decline in ADA’s price.
• ADA has lost more than 16% of its value since the beginning of August 2023.

Cardano users have staked more than 157 million ADA over the past week. The surge in staking activity came after a decline of more than 5% in the world’s seventh-largest cryptocurrency by market capitalization. On-chain data shows that Cardano holders have staked a whopping $40.8 million worth of ADA since August 21, 2023.

According to Cardano Blockchain Insights obtained from Looker Studio, the percentage of Total ADA Staked went from 62.9% to 63.4% between August 21 and August 28. The nearly 0.5% increase in the metric represented approximately 157 million ADA staked by the blockchain’s users during this period.

As per CoinMarketCap, ADA is currently trading at $0.26, which would value the newly staked tokens at more than $40 million. ADA has lost more than 16% of its value since the beginning of the month, going from $0.31 to as low as $0.25 earlier this week. However, this price decline likely …

The post Cardano Holders Stake $40M Worth of ADA Following Price Decline appeared first on Coin Edition.