There has been a massive increase in the number of the Decentralized application on the Cardano chain (Cardano’s DApps) over time spiking to 16 million transactions and also, the number of unique accounts on all DApps has also surged to a whopping 255.2K, according to data from Dapps on Cardano, an analytics platform dedicated to providing insight on projects built on the Cardano chain. The platform highlighted the achievement through its Twitter handle on Tuesday.
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Cardano’s Dapps Completes Record Of 16M Transaction
As stated in the data released, a total of 5.3 trillion ADA volume has been indexed across all the projects, having an average transaction size of 4,800.
Notably, the total transaction fees of ADA are presently at the 7.4M level at the time of reporting, with an average transaction fee of 0.473 ADA.
It is worth noting that out of the 16 million transaction volume, JPG Store, the largest NFT marketplace on Cardano, has processed the highest number of transactions, sitting at 8.1M. This represents over 50% of the total number of transactions. Minswap, a decentralized exchange, is second on the list, having processed 2.9M transactions. Another DEX, Sundaeswap, follows closely behind, with a total transaction count of 2.6M.
Furthermore, DappRadar, a top app store for DApps across several blockchains, reveals a massive spike in trade volume across Cardano projects, specifically the Decentralized exchanges.
Massive Adoptions On Cardano Network
Over time, the rate of the adoption in Cardano network has been encouraging. For instance, the report reveals that in 30 days leading to October 27, 2022, Cardano NFTs’ trading volume surged to $19M, becoming the third largest NFT protocol. The report also revealed a spike in Cardano DApp activity on October 19, as network transactions hit 82,880, the highest in 5 months.
More also, there was a massive increase in the Cardano DApps’ unique accounts in less than a week the last November, with the Defi project Indigo Protocol topping the list.