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Cardano's On-Chain Data Shows Network Growth, With Average Monthly Transactions up 8%

Thu, 06/02/2022 - 10:57
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Tomiwabold Olajide
Number of on-chain transactions is up 7.74% at 42.5 million
Cardano's On-Chain Data Shows Network Growth, With Average Monthly Transactions up 8%
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The Cardano Foundation recently shared a 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.

According to the data, the number of native assets issued on the Cardano blockchain is presently 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%.

However, the percentage of ADA staked and staking pools were slightly 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 had a brief relief bounce in the final week of May, interrupting the overall decline. With a roughly 40% increase, Cardano's ADA led advances among crypto majors. This is due to growth in the issuance of native assets on the network and, as reported by U.Today, 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.

Cardano's Pavs hit 440,000 ADA in secondary sales with 5,000 holders

Cardano's first launched Metaverse project, Pavia, has seen over 440,000 ADA in Pavs secondary sales volume. Pavs also boasts of almost 5,000 unique wallet holders with the highest sale of 13,000 ADA. Pavs are Cardano NFTs belonging to the Pavia Metaverse.

Pavia, which officially launched as the first Cardano Metaverse in January, was named after Pavia, Italy, the 1501 birthplace of Gerolamo (Jerome) Cardano.

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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.