Cardano Just Delivered Two Bullish Signals at TOKEN2049 as ADA Rebounds

ADA was among the top performers earlier this week before it crashed by double digits. However, it's back on the offensive on Saturday. Despite the major leg down at the end of the business week, on-chain data showed that the daily active addresses on the Cardano network surged to roughly 1.7 times September’s weekday average following the launch of a new token standard. At the same time, Cardano reached a substantial milestone in its bid for a .ada internet domain. On-Chain Activity Pumps Data from Santiment Intelligence shows that Cardano recorded approximately 27,500 daily active addresses on October 7 and almost as many a day later, which is significantly higher than the average weekday level seen in September. The analysts tested whether the broader market decline could explain the increase but found that active addresses on Bitcoin and Ethereum remained at or below their respective September norms during the same period. The timing coincided with the October 7 launch of CIP-0113, Cardano’s new programmable token standard. The Cardano Foundation explained that the standard lets issuers of regulated assets such as stablecoins and tokenized funds build requirements, including KY...