Cardano’s On-Chain Data Shows Network Growth, With Average Monthly Transactions up 8%
The Cardano Foundation recently shared its latest monthly wrap-up of on-chain data. A total of 947 proposals have been funded with the project catalyst. Meanwhile, the number of on-chain transactions is up 7.74% to 42.5 million.
As stated by the pool.pm data, the amount of native assets issued on the Cardano blockchain is currently 5,059,748, with 55,043 distinct minting policies. This represents a more than 8.64% increase in the past month. The number of Cardano wallets slightly rose in the past month to 3.36 million, while that of Plutus scripts rose by 5.47%.
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Although, the percentage of ADA staked and staking pools were nearly down, by 1.35% and 0.75%, respectively. The price of ADA was trading down 5.05% at $0.58 as the cryptocurrency trimmed off the impressive gains it had recorded since the week’s start. However, ADA is up 19.08% on a seven-day basis.
The price of Bitcoin and the rest of the crypto market gas short relief bounce in the final week of the week of May, interrupting the overall reduction. With an almost 40% spike, Cardano’s ADA led advances among crypto majors.
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This is owing to growth in the issuance of native assets on the network and, as brought out by Cryptolifedigital, over five million assets have now been minted on Cardano. Also, positive expectations regarding the planned Vasil Hard Fork partly contributed to the price increase.
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
