After Charles Hoskinson announced that Cardano is currently working with a partnership to utilize cases for DLT in the EU, the crypto asset got the spotlight.

The same way with other cryptocurrencies, ADA’s price has also seen with increase during the first month of 2020. The crypto asset has started at $0.033 and currently trading at $0.054.

However, crypto analysts noted that the gains happening to ADA is not based on the actual usage. Only a few of people use the crypto asset considering the Cardano blockchain.

Recent ADA Crypto Market Performance

If you are not aware, the price of ADA was filled with tremendous expectations before 2020 kicks off. In fact, analysts believe that the crypto’s price will soon to experience a massive rise.

Few days ago, ADA’s price surges over 16% over the US Dollars. So, the ADA bulls celebrated that price action.

The recent price surges of ADA token were believed to be due to positive Weiss ratings, Cardano Foundation’s adoption efforts, and Cardano staking. Weiss has recently released a report which revealed that ADA has a better performance that EOS being an decentralized blockchain.

No doubt, a number of traders believe that further price surge will happen. Besides, they have expressed that they also hope that the token could outperform Bitcoin in the near term.

ADA Blocks Remain Completely Empty

Despite the positive market performance of ADA throughout the first month of 2020, its blocks remain to be completely empty. As you probably know, when blocks are empty, it means that there are only a few transactions done within the blockchain.

Considering the blockchain of Cardano, it displays a lack of network use. In fact, 66 of the previous 100 blocks have to transactions while other blocks come with only 1 to 2 transactions. Besides, the past 100 blocks do not contain over 10 transactions.

Crypto Analysts believe that the reason behind why the use of ADA remain incredibly low is that ADA miners have added more blocks instead of transactions.

So far, the ADA’s price action is entirely based on the system’s speculation in what in might achieve in near term.

The total number of ADA transactions caused concerns to many folks. On the other hand, the upcoming network developments can result to greater usage. In fact, Cardano CEO Charles Hoskinson recently announced the firm’s partnership with accounting group PwC.

Other than that, the tenth crypto asset by market capitalization is set to have upgrades to include smart contract functionality and move the network to the proof-of-stake system.

Although the ADA’s blockchain has seen with a handful actual use, many people are still placing their hopes over the crypto. Not only that, the bulls are expected to work harder and set the price higher. There is still a chance for the crypto asset to increase the transactions since it already gained more exposure.