Cardano Foundation highlighted steady growth in Cardano network's on-chain activity
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Meanwhile, the ADA price closed July lower by 1.02%, despite reaching highs of $0.456 this month. July saw mixed price action for several crypto assets as the markets reacted to concerns over the defunct Mt. Gox crypto exchange and interest rate cuts.August kicked off on a bearish note for the crypto market, with various assets falling across the board.
Cryptocurrencies tumbled at the week's start amid a global market sell-off fueled by recession fears. The developments reflect a broader market sell-off that began last week when a weaker-than-expected July jobs report raised investor concerns about a recession.At the time of writing, ADA was up 3.43% in the last hour, indicating potential dip-buying. However, it is still down 9.32% in the previous 24 hours to $0.316, as well as 23.13% weekly.
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