• Cardano (ADA) experienced a 51.42% price increase from January 5th, 2023.
• The Cardano Foundation reported an increase in transactions and smart contract usage on the network.
• Recent developments for the ecosystem include the Vasil hard fork and launch of Djed stablecoin.
Cardano (ADA) Price Increase
The price of Cardano (ADA) has increased 51.42% from January 5th, 2023.
The Cardano Foundation has shared statistics reflecting increased transactions across the board on the network. An increase in smart contract transactions on the Cardano network could propel the global adoption of similar protocols. On February 3rd, 2023, the official Cardano Foundation Twitter account revealed Cardano’s on-chain data from January which showed increases in native tokens, transactions, wallets, Plutus Scripts and policies on the network. Furthermore, transaction types were reportedly divided into 31% for smart contract transactions, 46% for simple transactions and 23% for metadata transactions without smart contracts.
Recent Events & Developments
Notable events for the ecosystem include the Vasil hard fork upgrade launched on September 22nd 2022 to enhance smart contract capabilities on the network as well as Cardano’s overcollateralized Djed stablecoin launched on January 31st 2023 which quickly accumulated 29.9M ADA in base reserves less than a week after launch with a 652% reserve ratio at present time of writing. Additionally, 50% of nodes went offline due to a „transient anomaly“ but IOG founder Charles Hoskinson assured that it was not malicious and would be investigated further by developers.
Cardano (ADA)’s recent developments demonstrate their commitment to continued innovation and growth within their blockchain platform while also providing users with secure and reliable services through their various upgrades and protocols such as Plutus Scripts or Djed stablecoin launches . As more individuals become aware of these features found within this blockchain platform there is potential for further mainstream adoption along with its associated benefits globally .