Cardano [ADA]’s latest ‘10% increase’ could have this effect on the price

ambcrypto.com:

You are not new to blockchain technology and the crypto-space. You understand the concept of “block size” and are familiar with the benefits a network that has a large block size. You come across an announcement from the team behind the Cardano project to increase the network’s block size by 10%. But, how has ADA fared in the meantime? Well, read the following to get your answer…

After recording an ATH of $3.10 eight months ago, ADA has lost over 70% of its value. At press time, it was trading at a price of $0.88.  Following the announcement to increase the block size of the Cardano mainnet, ADA hiked by 5% on the charts.

Similarly, its market capitalization spiked up by 7% over 24 hours.

Source: CoinMarketCap

On the trading volume front, ADA had shed over 40% of it since the beginning of the month. Thanks to the announcement, however, the same was recorded to be $917.17M – An 11% increase in the last 24 hours.

Two months ago, Cardano’s block size was increased by 11%. According to yesterday’s announcement, the block size will be increased by another 10%. With an understanding of the benefits of block size increments, a look at on-chain data for Development Activity on the Network becomes pertinent.

After recording a high of 117.36 on 17 February, the Development Activity has been on a downward spiral. With a reading of 56 at press time, it implied that February’s block size increments weren’t particularly positive for development activity on the network.

Source: Santiment

Furthermore, the number of unique addresses involved in ADA transactions on a daily basis have dropped significantly this month. Commencing the month with an index of 127.5k Active Daily Addresses, ADA saw a 55% decline. Yesterday, Active Daily Addresses stood