Cardano's on-chain metrics show the ADA community is here to stay despite huge losses

Cardano's price has been slow to recover since its 2017 drop despite major strides made in the launch of the Shelley era.

Its on-chain metrics tell a story of an active community that has high hopes for the future of Cardano and its native cryptocurrency ADA.Cardano's latest success barely moves ADA. While most of the media coverage Cardano has gotten in the past couple of years focused on its slow development process, the ambitious blockchain project has seen an eventful few months that are bound to propel it to new heights.

IOHK, the company behind Cardano, had a successful balance check before the official network snapshot, with its CEO Charles Hoskinson saying several major bugs and issues were resolved in the meantime.

While all of this only strengthened the community's confidence in the project and its charismatic leader, Cardano's price barely reacted to any of the major developments in the company.

Since its creation in 2017, Cardano managed to attract a large and active community.

While a quarter of all Cardano addresses have a zero balance, 49 percent have made a transaction in the past 24 hours.

Despite metrics indicating a bearish market, such a large number of hodlers shows that confidence in the network is still strong among its whales.

It's not just the whales that seem to be standing by Cardano.

Around 87 percent of ADA holders are at a loss, having bought the coin at a price higher than its current value.

With half of them holding onto their ADA for longer than a year and around 41 percent owning it longer than 1 month, it seems that the Cardano community is here to stay.