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ADA Cardano decentralization reaches a record high, with ADA prices recovering 30% from July lows.
Cardano has reached a new milestone in the process of promoting decentralization, with its Nakamoto coefficient (Satoshi coefficient) reaching a record high. This indicator suggests that the security and resilience of the blockchain network have been improved because it is more difficult to control by a few participants.
Decentralization reaches its highest level in history
Cardano equity pool operator Rick McCraken cited data from the Web3 blockchain analysis platform Chainspect on the X platform to highlight this achievement. According to Chainspect, Cardano's Nakamoto coefficient has risen to 16, marking an unprecedented level of decentralization for the network.
A higher Nakamoto coefficient means that more independent entities need to act together to destroy the blockchain, thereby enhancing security and censorship resistance. Cardano improves the Nakamoto coefficient by decentralizing influence among more independent entities, thereby strengthening network control, achieving better anti-censorship effects, and reducing user centralization risks.
Small Dictionary: The Nakamoto coefficient is an indicator that measures the minimum number of independent entities needed to disrupt the operation of the blockchain. The higher the value, the lower the concentration of control and the higher the level of network security. For proof-of-stake systems like Cardano, this coefficient considers the distribution of stake pools, verifiers, or block producers; in proof-of-work networks, it reflects the distribution of mining pools. When this coefficient is low, the network faces greater centralization risks and potential problems.
ADA price rebound and market background
Cardano's native token ADA also experienced significant price fluctuations, reaching US$0.199 on August 4. This is the first time in a month that ADA has traded more than $0.19. The price rebound came after the weak performance of most altcoins, making ADA stand out in the market.
Analyst firm Sanitation said the ADA's weekly gain was close to 17%, making it stand out in the difficult environment faced by other cryptocurrencies. The ADA has risen from a low of $0.153 and has risen nearly 30% to recent highs.
Overview of price data: On July 4, the ADA price low was US$0.153 and the high was US$0.19, with an unclear weekly increase; on August 4, the ADA price low was US$0.153 and the high was US$0.199, with a weekly increase of 16.92%.
Holder Trends and Continued Development
Despite price increases, Cardano currently has 7,070 fewer non-empty wallets than it did two months ago. This suggests that although the value of ADA has rebounded, some former holders have not yet returned to the market. Analysts interpret the trend as a sign that more determined buyers may be absorbing existing supply and that confidence among retail participants has not yet fully restored.
Sanitation pointed out that Cardano's recent rebound has benefited not only from price movements, but also from continued activity within its ecosystem. These activities include the progress of work on the Leios Test Network, improvements to Hydra's capacity expansion capabilities, Mithril protocol upgrades, Pyth network integration, and a new round of financing through the Cardano decentralized innovation fund Project Catalyst.
Cardano's recovery is built on ecosystem advances, including recent testnet development and multi-protocol upgrades, which provide a more solid foundation for the network's continued growth.
