Nearly 7,000 NFT projects on Cardano network
Cardano (ADA) continues to grow in prominence in the NFT space, among other things, after making some network upgrades. These upgrades seem to be paying... The post Nearly 7,000 NFT projects on Cardano network appeared first on Blaze Trends.
Cardano (ADA) continues to grow in prominence in the NFT space, among other things, after making some network upgrades. These upgrades seem to be paying off as a new milestone has almost been reached: the 7,000 NFT projects on the ADA network.
New data Cardano Daily
Reportedly, 15 marketplaces worldwide generate a trading volume of approximately $459 million. The largest marketplace for Cardano appears to be JpegstoreNFT, with a share of over 64%. In addition, data from the 100 NFT collections on Cardano has a market cap of approximately $616 million. This is according to new data from Cardano Daily.
Achieving rapid & significant growth
Although Cardano is fairly new to the NFT market, the network has achieved significant growth in a short period of time. Along this line, the platform also reached another milestone following their announcement of plans to unveil the first NFT lending service.
This will be done in partnership with Aada Finance, a digital asset lending platform. A first version of this service is expected to be launched this month, allowing users to lend and lend assets among themselves through a unique NFT bond technique.
The new milestones for Cardano are a major step towards mass adoption in the crypto ecosystem. Since the platform’s inception, Cardano has undergone tremendous development as part of its move to become an ‘Ethereum (ETH) killer’.
The long-awaited hardfork
An important reason for the network’s growth within the NFT world is the upcoming and highly anticipated Vasil hard fork. After several delays, the Cardano Foundation has confirmed that the upgrade is scheduled for September 22 this year.
Prior to this upgrade, Cardano continues to record significant activity. For example, on September 5, the Cardano network added more than $2.1 billion in market cap in just 7 days. Although it is not known whether this line will continue to develop, there are currently good signs. Finally, it is currently too early to say what effect the hard fork will have on the price of digital assets.
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