Logo
Cardano Ecosystem

Thenewscrypto

08/05/2023

·

60 views


How is Cardano (ADA) Performing as of 2023?

Messari’s report on Cardano has revealed key metrics on dApp transactions. Cardano climbed the TVL ranks from 34th to 21st among all chains through 2023. Bringing up promising developments in blockchain...

How is Cardano (ADA) Performing as of 2023?
  • Messari’s report on Cardano has revealed key metrics on dApp transactions.
  • Cardano climbed the TVL ranks from 34th to 21st among all chains through 2023.

Bringing up promising developments in blockchain technology with innovation has been the activity of Cardano (ADA) in recent times. Meanwhile, crypto investors await the usual monthly performance in the crypto market. 

Cardano (ADA) 24H Price Chart (Source: CoinMarketCap)

The overall crypto market is currently down by 0.42% in the last 24H at the time of writing. Alongside, the trading volume of ADA has drastically fallen by 33.20% in its current circulation supply of around 35,017,542,397 ADA which is nearly 78% of its total supply. Also, the market capitalization dropped comparatively over the last week. Thus, losing out the 7th spot to Dogecoin, and now ranking in the 8th position as per CoinMarketCap. 

Cardano’s Q2 2023 Analysis

Messari, the leading provider of crypto market intelligence products has shed light on the performance of Cardano in Q2 2023. This gives key insights including the Cardano transactions on the Quarter on Quarter (QoQ) variation in the decentralized applications (dApps) along with the overall technical measures.

Providing prioritized security and sustainability to the dApps, Cardano proceeds ahead toward the Voltaire phase together with the group of community developers supported by multiple entities. As of June 30, 2023, the percentage change of QoQ in Cardano noted from various sources is pointed out by Messari

The average daily volume of dApps trades increased by 49% quarter over quarter. While Minswap’s growth was the highest, other new dApps helped the overall rise. TVL (USD) was up 9.7% QoQ and 198.6% YTD. Cardano climbed the TVL ranks from 34th to 21st among all chains through 2023. Hydra Proposed topologies, enthusiasm from ecosystem teams, and an exhibited demo all indicate that work is proceeding apace.

Cardano’s Development 

As per crypto analyst Ali, Cardano’s Github repository performance in development activities has been 3x compared to Ethereum’s. The analyst also mentioned that Cardano’s Founder, Charles Hoskinson, and the IOHK team deeply raced as 3rd generation blockchain platform. 

The efficient work with their dedication has proven results on Cardano over the graph metrics shared by Ali. The GitHub repository is been actively performing well and is robust with strong network security. 

On the other hand, several dApps of Cardano aren’t set to launch by the 2023 end due to their challenges and operational factors. Yet, the surge in other parameters might give a boost to evolve over this situation. 

Related Crypto News:

Cardano (ADA) Price Shows Resilience; Possible Upside Ahead

A computer science engineering graduate who dives nook and corner of an engaging career with a keen interest in content creation, currently exploring the field of Crypto.

AD

NFTxLV - Sep 29 - Oct 1, 2023 | Las Vegas Convention Center

Discover the intersection of art and blockchain with NFTxLV, where the world of NFTs collides with the allure of Las Vegas, creating an unforgettable experience for collectors, artists, and enthusiasts alike.GET TICKETS!


Read Original Article on Thenewscrypto

ORIGINAL SOURCE

https://thenewscrypto.com/how-is-cardano...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


NFTxLV | Sep 29 - Oct 1, 2023 | Las Vegas Convention Center

More from Thenewscrypto

See more
Cardano Spot's Role in Advancing Web3 Adoption: EMURGO Managing Director
Thenewscrypto
Cardano Spot's Role in Advancing Web3 Adoption: EMURGO Managing Director

09/16/2023

·

15 views

Related News

See more
NFTxLV | Sep 29 - Oct 1, 2023 | Las Vegas Convention Center

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)