Cardano (ADA) is a blockchain-based platform that allows developers to build decentralized applications (dApps) and smart contracts. Created by Charles Hoskinson, one of the co-founders of Ethereum to address some of the scalability and interoperability issues faced by existing blockchain networks.

The Cardano price surged as it broke through a critical resistance trendline on its chart, a few days ago. However, the bullish momentum was short-lived, and ADA has since lost 0.5% of its value on the daily chart. The past week saw a significant depreciation of 14% in ADA’s value, with demand and accumulation both falling.

Input Output Global (IOG), the organization behind Cardano’s research and development, recently shared its weekly development report for the week ending on Friday, April 21, 2023.

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced a strategic partnership with Lithuanian fintech firm CoinGate, allowing Binance Pay users to conduct transactions at CoinGate-affiliated merchants using Shiba Inu ($SHIB) and other Binance Pay supported digital assets.

The Foundation allocates its assets to robust counterparties and predominantly holds its ADA($322 million) and BTC($19 million) in cold storage solutions.

Xrp plunged to a multi-week low in Friday’s session, as the token slipped for a third consecutive session. The move pushed prices to their lowest point since late March, with the global market cap trading 2.39% lower as of writing. Cardano also fell to a two-week low.

Cardano rose to its highest level in seven-months on April 14, as cryptocurrency markets remained bullish. The global crypto market cap rose by as much as 2.25% on Friday, with bitcoin moving above $31,000. Xrp was another notable gainer, as the token hit a two-week high.

Cardano blockchain’s native currency and utility token ADA has been among the top performers in the first quarter of 2023, posting a gain of roughly 30% in the past 30 days.

Cardano (ADA) whales, or addresses holding between 100 million and 1 billion ADA, have accumulated 560 million ADA tokens, worth $218 million, in the past two weeks. The cumulative holding of these whale addresses now targets the 3 billion ADA mark, indicating a readiness from deep-pocketed investors to augment their holdings. Cardano has also been witnessing a surge in non-zero addresses, adding 79,196 non-zero addresses since the start of the year. Most ADA holders, about 51% of investors, are long-term holders, having held their bags for over one year. However, ADA continues struggling to recapture the $0.40 zone after falling below it a week ago.

The number of non-zero addresses on the Cardano network is expected to increase to 10 million by 2025, according to an analysis by Cardano stake pool operator Cardanians. The network recently surpassed 4 million total addresses, with 2.24 million holding non-zero balances.