As a seasoned analyst with extensive experience in the cryptocurrency market, I have witnessed the evolution of various projects and their milestones. The recent achievement by Cardano (ADA) of surpassing 94 million transactions is a noteworthy accomplishment that underscores the network’s growing adoption.
Reaching over 94 million transactions, Cardano (ADA) marks an impressive accomplishment, reflecting the expanding usage of its network.
Aside from transactions, Cardano is also seeing growth in other network parameters.
For those who missed it: Here’s a summary of this week’s significant developments in Cardano. Catch up now on EssentialCardano! #ICYMI #CardanoUpdate
— Input Output (@InputOutputHK) July 21, 2024
According to the latest report from Input Output Global (IOG), the Cardano network presently holds a total value of locked 548.4 million ADA. This figure represents the circulation of tokens within smart contracts on the platform. Additionally, there are approximately 10.2 million native tokens in existence, distributed across 146,328 unique token policies. Furthermore, there are around 67,950 Plutus scripts and 1,368 active projects developing on Cardano.
Based on the latest CoinShares update, there was an increase in investments in digital assets last week with a total inflow of $1.35 billion. Over the past three weeks, this figure has amounted to a significant $3.2 billion.
Over the past week, Cardano has experienced an inflow of approximately $0.4 million, making it the second week in a row for such deposits. Currently, the price of ADA is sitting at around $0.432, representing a 0.4% increase in the last 24 hours.
Preparations ongoing for Chang upgrade
The upcoming Chang enhancements, slated for August 2024 with sufficient community readiness, are predicted to bring about a pivotal shift for Cardano, signifying an essential step forward in its development plan.
During the Voltaire phase of the Cardano project, Chang represents the initial significant update or divergence from the main network, functioning as the first hard fork.
Anticipating the Chang upgrade, there’s been a shift in attention towards rigorous testing for Cardano. This step is essential to fortify all components and readiness them for the impending shift into the Conway era.
The Lace team is presently gearing up for the imminent launch of Lace version 1.14 within the coming fortnight.
All Cardano node users are advised to update their nodes to version 9.0.0 following its release, in anticipation of the upcoming Chang upgrade. Stake Pool Operators (SPOs) require only a minor configuration adjustment (updating to node version 9.1.0) for full readiness.
A hard fork combinator event can occur once nearly 75% of SPOs have upgraded to cardano-node 9.1.0.
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2024-07-22 18:59