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Cardano Native Assets Surpass 8 Million Mark as Ecosystem Sees Fundamental Growth

Wed, 03/22/2023 - 16:10
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Tomiwabold Olajide
Cardano recording positive fundamental growth
Cardano Native Assets Surpass 8 Million Mark as Ecosystem Sees Fundamental Growth
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The Cardano network is experiencing fundamental growth. The number of native assets has crossed the eight million mark and is currently 8,027,363, according to the data. These were minted across 70,901 policies. Also, the number of NFTs is at 7,511,799, according to the same data source.

Cardano NFT trading activity is also growing. According to data from Cryptoslam, Cardano-based NFT sales rose 34.92% over the last 24 hours to $536,047. The total number of ADA wallets crossed the four million mark on March 21, according to Cardano Blockchain insights.

The number of projects building on Cardano is 1,213, with 118 projects launched, while the total number of transactions on the network has risen to 63 million.

ADA-denominated value locked in the Cardano DeFi has reached new highs of 405.63 million, according to data from DeFiLlama. In dollar terms, the total value locked in Cardano DeFi is $150.96 million (staking included), reflecting an increase of 11.20% in the last 24 hours.

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Overall, this reflects significant inflows into the Cardano DeFi ecosystem. Also, the number of dApps contributing to Cardano's TVL has increased from below 10 to 17.

At the time of writing, ADA was up 8.47% in the last 24 hours to $0.38.

In the past week, Cardano unveiled a new network upgrade that includes Dynamic Peer-to-Peer (P2P) networking. Network participants can now test automatic node communication to ensure a smooth rollout of Dynamic P2P functionality.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.