is becoming a longer-term investment for many holders, with an increasing number of people choosing to hold onto their coins for more than a year. This is a positive trend for the cryptocurrency, as it shows growing confidence in its long-term potential.
As more people hold on to their ADA, the circulating supply of the cryptocurrency decreases. This can potentially lead to an increase in demand for the remaining coins, driving up the price. Long-term holders are less likely to sell their coins during times of market volatility, which can help stabilize the price of ADA.One of the main reasons for the increasing number of long-term ADA holders is likely due to the continued development of the Cardano network.
Despite the recent dip in price, Cardano's fundamentals remain strong. The project has a dedicated team of developers working on its development, and its technology is widely respected within the cryptocurrency community. In addition, Cardano has a strong community of supporters who are actively promoting and building on the platform.Polygon has been one of the best performing cryptocurrencies in the market over the past year.