Cardano is witnessing a revival in its community engagement following a significant selloff in June. Data from Santiment reveals that the network has welcomed an additional 14,783 non-empty ADA wallets since hitting its lowest point on June 23.
Renewed Retail Activity and Price Recovery
The recent uptick in wallet numbers indicates a resurgence in retail interest, coinciding with ADA's climb back towards the $0.20 mark. After plummeting to levels unseen since 2020 last month, ADA is now experiencing a recovery, showing a 35% increase after bottoming out on June 29.
As of July 5, ADA was trading at approximately $0.18914, reflecting a slight decline of 2.08% over the last 24 hours, yet it boasts a remarkable 31.08% rise over the previous week. The market cap for ADA is currently estimated at around $7.05 billion.
Community Sentiment and Challenges
This rebound does not fully counter the earlier decline but suggests that some retail participants are starting to return after a spell of heightened anxiety and discussions around the future of the Cardano ecosystem. Santiment noted that the price rebound followed a phase of
