Crypto: Cardano blockchain transactions are soaring!
The Cardano blockchain is known as one of the most innovative and promising in the crypto sector. Many investors and analysts appreciate its security and scalability. These assets have enabled Cardano to record remarkable performances, the most recent of which is the considerable increase in its transactions.
Spectacular increase in transactions on Cardano
The statistics for Cardano, Charles Hoskinson’s blockchain, are glowing. In fact, a report by analysis firm Messari reveals that transactions increased by 49% over the last quarter. According to the report, blockchain activity increased significantly in terms of both locked value and transactional metrics. From less than 40% in the first three months of the year, blockchain load grew at a remarkable rate to over 50% by the second quarter.
Despite this increase, however, the report from analysis company Messari shows a 4 % drop in the number of daily active users. “The ratio of transactions to active addresses has been growing steadily over the past five quarters, suggesting that the average user is more active now than they previously were”, states the report.
Factors behind the increase in transactions
Several factors explain the explosion in transactions on the Cardano blockchain. One of the main catalysts is the proliferation of decentralized applications on the blockchain network. In addition to the proliferation of DApps, the many changes made by Cardano since the beginning of 2023 have also contributed to the explosion of activity on the blockchain.
Indeed, the team behind Cardano has made numerous upgrades to limit epoch transitions and make blockchain more fluid. These improvements have clearly paid off, if the figures from analysis company Messari are anything to go by.
At the time of writing, the price of ADA, Cardano’s native cryptocurrency, is $0.29, down 0.31% over the past 24 hours. Despite this lacklustre performance, and especially with the increase in transactions on the blockchain, some analysts are predicting an imminent uptrend for ADA.
Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.
Click here to join 'Read to Earn' and turn your passion for crypto into rewards!
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.