As a seasoned researcher who has witnessed the ebb and flow of numerous blockchain projects, I must admit that the recent developments in Cardano (ADA) have been nothing short of impressive. The network’s ability to process over 100 million transactions since launch is a testament to its resilience and scalability.
Over 100 million transactions have been carried out on the Cardano (ADA) network since its launch, as stated in a recent report by Input Output Global (IOG), the entity that oversees Cardano’s research and technological advancements.
On the topic of X, Input Output recently disclosed that by November 29th, they had identified a total of 1,979 projects utilizing the Cardano platform, with 603 of these projects situated within Cardano’s own ecosystem.
Over the past month, I’ve observed a significant growth in both token policies and native tokens on the Cardano network. Specifically, the number of token policies has expanded from 82,108 to 182,230, marking an increase of approximately 10,132. Similarly, the count of native tokens has seen a surge, rising from 9.74 million to 10.54 million, which translates to about 80,000 new tokens. Moreover, the total number of transactions processed on the network has experienced a substantial jump, moving past the 100 million milestone and reaching 100.57 million transactions. This growth reflects the active and growing interest in Cardano’s blockchain technology.
Over the past month, there was an additional 2.65 million transactions, bringing the total up to 100.57 million.
— Input Output (@InputOutputHK) December 5, 2024
The latest update from Input Output indicates an increase of 9,102 Plutus scripts on the network, bringing the total to 100,800. The team responsible for Plutus has completed their work on serializing Agda proof objects, moving a step closer to offering a practical tool for certified compilation.
At a significant juncture, the report issued by the organization arrives when the overall worth locked (TVL) within the Cardano system surpassed $700 million. This growth occurred as the ecosystem recuperated from the crypto market downturn that had caused it to plummet to a low of $50 million in November 2022.
As per data from DeFiLlama, a significant amount of approximately 702 million dollars is currently secured within smart contracts on the Cardano blockchain. This figure represents an increase from around 53 million dollars following the fall of the well-known crypto trading platform, FTX.
TVL is often seen as a key indicator of the health and trust in a DeFi ecosystem, as it reflects the growing interest and adoption of the network by investors. An increase in TVL usually signals rising confidence in the project.
Apart from the rise in TVL (Total Value Locked), it’s worth noting that Cardano’s decentralized exchanges (DEXs) have handled a trading volume of approximately $26 million over the past 24 hours. Moreover, the network has experienced significant growth due to a recent increase in the value of its native token, ADA.
Over the past month, the value of ADA has surged over 220%, currently trading at $1.16 per token compared to approximately $0.359 previously. However, it experienced a considerable dip in the last day due to a broader crypto market decline, dropping around 5%.
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2024-12-06 21:02