Cardano Surpasses 94 Million Transactions Amid Growing Network Adoption

• Cardano (ADA) has reached a major milestone, surpassing 94 million transactions, highlighting the network’s increasing adoption.
• Driven by continuous development, Cardano is also seeing growth in other key network parameters.
• According to Input Output Global’s latest weekly report, there are currently 10.2 million native tokens minted under 146,328 token policies.

Discover the latest in Cardano’s evolving journey—explore the significant milestones, upcoming upgrades, and market performance insights.

Significant Milestone: Over 94 Million Transactions

Cardano continues its upward trajectory by achieving the remarkable milestone of exceeding 94 million transactions on its network. This achievement underscores the increasing utilization and trust in Cardano’s blockchain technology, positioning it as a formidable player in the cryptocurrency space. The network’s robust infrastructure and continuous development play a key role in driving this adoption.

Cardano’s Network Growth and Parameters

Beyond transaction volume, Cardano is witnessing significant growth in various network parameters. The latest data from Input Output Global reveals that the total value locked on the Cardano network stands at 548.4 million ADA. Additionally, the network boasts 10.2 million native tokens minted through 146,328 token policies. The number of Plutus scripts has reached 67,950, underscoring the active development environment, with 1,368 projects currently building on Cardano.

Cardano’s Market Performance and Investment Inflows

According to a recent report by CoinShares, digital asset investment products saw substantial buying activity, with inflows of $1.35 billion recorded last week. This has brought the total inflows over the past three weeks to $3.2 billion. Notably, Cardano has marked a second consecutive week of inflows, reporting $0.4 million in the past week. At the time of writing, ADA’s price had risen by 0.4% over the preceding 24 hours, reaching $0.432.

Preparations for the Chang Upgrade

The Cardano community is eagerly anticipating the Chang upgrade, slated for August 2024—pending community preparation. This upgrade represents the first hard fork under the Voltaire phase of Cardano’s roadmap and is expected to be a significant milestone. Extensive testing is currently underway to ensure the robustness and readiness of all systems for the transition to the Conway era. The release of Lace v.1.14 is also in preparation, with the Cardano node v.9.0.0 update available for ecosystem participants. Nodes will need to upgrade to version 9.1.0 to be fully prepared for the hard fork combinator event.

Conclusion

In summary, Cardano’s journey is marked by significant advancements, from surpassing 94 million transactions to gearing up for the transformative Chang upgrade. These milestones highlight Cardano’s growing presence and reliability in the blockchain space. As investors show continued interest and the network evolves, stakeholders can look forward to further developments and opportunities within the Cardano ecosystem.