Cardano (ADA) Soars To New Levels: IOG Unveils Explosive Growth In Key Metrics
22 Luglio 2024 - 9:40PM
NEWSBTC
In a recent weekly report by Input Output Global (IOG), the
engineering development company behind Cardano (ADA), significant
growth for the blockchain has been unveiled. The report highlights
notable achievements in Total Value Locked (TVL), transactions and
the increasing number of projects being built on the network.
Thriving Cardano Ecosystem Per the report, Cardano has reached a
milestone of 94 million transactions, showcasing the network’s
growing adoption ahead of scheduled upgrades later this year. The
report also discloses a TVL of 548.4 million in ADA, further
emphasizing the network’s growth. Data from DefiLlama confirms
this, with on-chain data showing over 26,000 active addresses in
the last 24 hours and a TVL in USD of $239 million. However, this
is much lower than the annual high in TVL in USD terms of nearly
$500 million recorded in March. Related Reading: US Spot
Ethereum ETFs Poised To Draw $1.2 Billion Monthly: Research Firm
IOG’s data also reveals that Cardano currently hosts over 1,300
projects and boasts over 10 million active tokens. Additionally,
showcasing the network’s appeal, there are over 67,000 Plutus
scripts, enabling the creation of decentralized applications
(dApps) and smart contracts within the Cardano ecosystem. Upcoming
Releases And Updates The report also sheds light on the current
focus of the ledger team as they await the Chang upgrade. Efforts
have shifted toward “extensive testing,” including writing unit
tests and conducting conformance testing. On the wallet and
services front, the Lace team is preparing for the release of Lace
v1.14 in the coming weeks, promising updates and improvements. The
report notes that the Hydra team has progressed on incremental
decommits, refining specifications and enhancing
documentation. The Mithril team also released a new
distribution with support for Cardano node v9.0.0 and continued
working on certifying Cardano transactions within Mithril networks.
Cardano’s progress extends to the Voltaire & Sanchonet domains
with the release of Cardano node v9.0.0. Users are encouraged to
upgrade to this version in preparation for the Chang upgrade.
Lastly, IOG disclosed that the Intersect team has been actively
updating the community on the latest Cardano node release, the
Chang timeline, and the Intersect’s constitutional council
confirmation. ADA Trading Volume Surges At the time of writing, ADA
is currently trading at $0.429 due to its continued growth over the
past month and the market’s recovery over the same period.
Additionally, CoinGecko data shows that the token has seen a spike
in trading volume of $628 million over the past few days,
representing a 154% increase in market activity for ADA. Related
Reading: ‘Early Signs Of Breakout’ – Solana To Explode By 900%,
According To Analyst Further supporting the bullish sentiment and
growth witnessed over the past month, ADA is currently trading
above the key 200-day exponential moving average (EMA), following
the 18% surge recorded over the past two weeks that saw it cross
this key indicator at $0.423. Notably, this supported the price
over the weekend, with successful tests for three consecutive days
preventing another retracement. Conversely, the $0.459 level
may be the next resistance in ADA’s growth path, preventing a rise
towards the next resistance on the daily ADA/USDT chart at $0.483
before retesting the $0.500 level. Featured image from
DALL-E, chart from TradingView.com
Grafico Azioni Solana (COIN:SOLUSD)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Solana (COIN:SOLUSD)
Storico
Da Lug 2023 a Lug 2024