Cardano Ecosystem Witnesses Rapid Growth Despite Crypto Winter

Number of Cardano (ADA) Wallets Surpasses 3.5 Million
  • Almost 100 new Cardano projects were launched last week as per statistics.
  • 2,500 Github contributions took place in the past week alone.

More than 1,040 Cardano apps are now under development, according to Essential Cardano’s website, which regularly monitors Cardano’s network and critical metrics. The Essential Cardano infographic presents many noteworthy data, the most prominent of which are the increase in the number of Plutus scripts as well as the number of presently developing solutions and apps built on Cardano.

The two metrics are closely linked since developers are continuously employing smart contracts to add new features to their apps. Cardano’s Vasil hard fork allows Dapps to be onboarded and expanded with new features. Almost 100 new Cardano projects were launched last week, bringing the total number of Cardano projects under development to more than 2,000. For a network that just launched smart contracts a year ago, this is a major step in the right direction.

Price Remains on the Bearish Side

The greatest expansion in the Cardano ecosystem may be attributed to the 6,304 new NFT projects that have been added. Cardano’s cheap costs, rapid transaction processing, and lack of competition are attracting a growing number of artists who are creating new NFT-related collections and projects.

With over 2,500 Github contributions in the past week alone, Cardano is one of the most active networks in the whole cryptocurrency market. Cardano’s underlying value is largely unaffected by this rich development process, which is why the market performance of ADA is disappointing.

According to CMC, the Cardano price today is $0.455182 USD with a 24-hour trading volume of $772,635,076 USD. Cardano is down 7.25% in the last 24 hours.

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