Cardano ADA Price Struggles Below Key Resistance Amid Network Growth Concerns

Cardano's ADA price has been struggling to break through key resistance at $0.2003, and some analysts are sounding the alarm about network growth versus its rivals.

Crypto analyst Joao Wedson has pointed out that active addresses for Cardano are near 497,840, which is a strong reading in the data. However, he believes this number doesn't necessarily reflect real usage beneath the surface.

Wedson compared Cardano's network activity to its rivals, including Bitcoin and Ethereum. While Bitcoin's on-chain activity has dropped significantly compared to previous years due to increased use of off-chain platforms, Ethereum is seeing a resurgence in active addresses, climbing back toward 1 million despite much of its activity taking place on Layer-2 networks.

TRON stands out with more than 4 million active addresses, largely driven by stablecoin transfers and payment activity. Cardano's network growth simply hasn't matched expectations, raising concerns about the strength of the ecosystem.