Cardano (ADA) Progress report

Cardano (ADA) Progress report

Cardano, a blockchain proof of stake platform that wants to bring about a positive global change, has seen an unprecedented rise since its beginning. The amount of ADA on-chain transactions bigger than $100k surged by 50x in 2022 alone, according to data released on March 29.

In addition, the Cardano first Metaverse project Pavia on April via Twitter has reported 22,000 landowners on its platform. This has caused exponential growth, which has attracted nearly $230 million in funds to the Cardano ecosystems.

Furthermore, the number of Cardano-based smart contracts has crossed 2,000 for the first time. Between March 28 and March 30, Plutus Scripts climbed by 489, that is from 1,671 to 2,160, respectively. Cardano Blockchain Insights reported the number of smart contracts at 2,272 on April 1.

Cardano’s scalability and performance have never been better, thanks to the addition of innovative contract capability. This is one of the reasons that several personalities outside the crypto niche industry partnered with the network. According to a Twitter statement, Clay Nation will welcome Charles Hoskinson, Snoop Dogg, and others on April 5.

The steady and gradual approach, on the other hand, caused issues for the central ecology. It caused big investors to flock to the platform as the bullish narrative grew stronger. As a result, the Cardano network has seen a surge in significant investment. Since March 21, there has been a 1.7 percent increase in whale addresses. Sensing the love, Cardano’s native cryptocurrency, ADA, soared.

At this writing, ADA is trading at $1.18, up 3 percent in just 24 hours. In some ways, this creates an opportunity for competitors to outperform them.