Cardano Ecosystem Growth and Upcoming Updates
The Cardano (ADA) blockchain is experiencing significant growth, as reported by Input Output Global (IOG), the engineering development company behind the project. The recent weekly report highlights impressive achievements in Total Value Locked (TVL), transactions, and the increasing number of projects being built on the network.
According to the report, Cardano has reached a milestone of 94 million transactions, showcasing the network’s growing adoption ahead of scheduled upgrades later this year. The report also reveals a TVL of 548.4 million in ADA, further emphasizing the network’s expansion.
Data from DefiLlama confirms this growth, with over 26,000 active addresses in the last 24 hours and a TVL in USD of $239 million. However, this is lower than the annual high in TVL in USD terms of nearly $500 million recorded in March.
IOG’s data also shows that Cardano currently hosts over 1,300 projects and boasts over 10 million active tokens. Additionally, there are over 67,000 Plutus scripts, enabling the creation of decentralized applications (dApps) and smart contracts within the Cardano ecosystem.
The report also sheds light on upcoming releases and updates, with the ledger team focusing on extensive testing in preparation for the Chang upgrade. Efforts are also underway in the wallet and services front, with teams like Lace, Hydra, and Mithril working on improvements and certifications.
In terms of trading volume, ADA is currently trading at $0.429, with a spike in trading volume of $628 million over the past few days, representing a 154% increase in market activity for ADA.
Overall, Cardano’s growth and development are evident in the thriving ecosystem, upcoming releases, and increasing trading volume, making it a project to watch in the blockchain space.
