Cardano Adds Nearly 15,000 New Wallets as ADA Recovery Gains Momentum

• Cardano added 14,783 new non-empty ADA wallets since June 23, reflecting growing network participation during the token’s ongoing price recovery.
• According to Santiment, ADA has rebounded 37% from its June low, although resistance around the $0.20 level remains significant.
• Intersect confirmed the Van Rossem hard fork met readiness requirements, supporting Cardano’s broader recovery alongside rising investor confidence.

 

Cardano has recorded a notable rise in network participation as thousands of new holders joined the ecosystem during its latest recovery. According to Santiment, the blockchain added 14,783 non-empty ADA wallets since June 23 while the token rebounded 37% from its June low.

According to Santiment, ADA dropped to $0.138 on June 25 following weeks of fear, uncertainty, and doubt that weighed on community sentiment. The decline marked Cardano’s lowest price level since December 2020 and reflected growing caution among investors.

However, sentiment improved as buyers returned to the market. ADA climbed to around $0.189 and briefly traded above $0.20 before retreating slightly. Even with the pullback, the continued increase in funded wallets suggested many investors used lower prices to expand their holdings instead of leaving the network.

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Growing Holder Base Supports Cardano’s Recovery

According to Santiment, retail participation has remained one of Cardano’s strongest qualities during difficult market conditions. Consequently, the steady increase in non-empty wallets points to improving confidence despite the recent period of heavy selling pressure. Besides the recovery in price, wallet growth provides another measure of network health. Rising funded addresses often indicate stronger user engagement, especially when they continue increasing during volatile market conditions.

ADA also tested the important $0.20 resistance level for the first time in about a month. Although sellers prevented a sustained breakout, the token remained comfortably above its June bottom. At the time of writing, ADA was up 1.73% over the previous 24 hours despite giving back part of its earlier gains. A move above $0.20 could strengthen bullish momentum and shift attention toward the daily 200-day moving average near $0.27. However, renewed selling could place the $0.138 support level back in focus.

Meanwhile, Cardano’s development roadmap also advanced. According to a July 3 update from Intersect, the network met all readiness requirements for the Van Rossem hard fork. The organization reported overall readiness of 83%, indicating steady progress toward the planned upgrade.

In conclusion, Cardano’s recovery now reflects more than price appreciation alone. According to Santiment, rising wallet activity and continued network development suggest investor participation is improving as ADA attempts to establish itself above the key $0.20 resistance level.

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