This week, Cardano recorded its 111 millionth transaction, indicating a rise in user activity on the platform and an expansion of its ecosystem.
Increase in Developer Activity
Developer activity on the Cardano platform has surged by 27% weekly, with 259 code updates on GitHub. The ecosystem hosts 2,005 active projects, signifying steady expansion.
Governance and Staking Participation
The network counts 1,377 registered Delegated Representatives (DReps), with 976 actively participating. Staking participation remains consistent, with 1.33 million wallets currently delegating ADA tokens.
Current Market Analysis and Outlook
The current ADA price is $0.5715, showing a minor gain of 0.02% over the last 24 hours. Despite this, the asset reflects a broader downtrend with a 13.95% loss over the past month. While institutional discussions around Cardano are ongoing, ecosystem development remains cautious.
The increase in transaction activity and ecosystem growth confirms the rising interest in the Cardano platform, despite current market challenges. The IOG team continues to enhance smart contract functionality, which may stimulate further development.
