Thriving Cardano Ecosystem
A recent report by Input Output Global (IOG), the company behind Cardano (ADA), has unveiled significant growth for the blockchain. The report showcases remarkable achievements in Total Value Locked (TVL), transactions, and the increasing number of projects built on the network.
– Cardano has reached a milestone of 94 million transactions
– TVL of 548.4 million in ADA
– Data from DefiLlama shows over 26,000 active addresses and a TVL of $239 million
– Cardano hosts over 1,300 projects and boasts over 10 million active tokens
– Over 67,000 Plutus scripts enable decentralized applications and smart contracts
Upcoming Releases And Updates
The report discusses the current focus of the ledger team as they await the Chang upgrade, involving extensive testing and preparations. Key updates include:
– The Lace team preparing for Lace v1.14 release
– Progress on incremental decommits by the Hydra team
– Mithril team releasing a new distribution supporting Cardano node v9.0.0
– Progress in Voltaire & Sanchonet domains with Cardano node v9.0.0 release
– Updates from the Intersect team on Cardano node release and Chang timeline
ADA Trading Volume Surges
ADA is currently trading at $0.429 with continued growth and market recovery. CoinGecko data indicates a spike in volume, increasing market activity for ADA by 154%. Additionally:
– ADA’s price crossing the exponential moving average at $0.423
– Possible resistance levels at $0.459 and $0.483 before retesting $0.500
Hot Take
Cardano’s ecosystem continues to thrive with significant milestones achieved in transactions, TVL, and project growth. Upcoming updates and releases signal further advancements for the network, while ADA’s trading volume surges, indicating positive market activity and growth potential.
By
By
By
By