- Cardano activity has increased dramatically in the last couple of days.
- Cardano NFT’s sector has lost interest.
Cardano [ADA] Has been consistently one of the largest networks in terms of growth activity.
Cardano failed to gain a significant number of users despite its high development rate.
Increase in Activity
In recent days, however, a surge in activity was observed in the Cardano Network. On the Cardano Network, it was observed that daily active addresses have surpassed the mark of 30,000.
The number of transactions on the network has also increased in tandem with an increase in the active addresses. However, this increase in addresses that are active was not nearly as large.
The number of addresses active on the network has risen to over 60,000. This is double the amount at the moment of this article.
The network should see the same activity level as it did in 2017. next Few Days
TVL on protocol has also increased due to the increasing activity of the Cardano Network. This indicates that the interest in Cardano’s DeFi sector is growing.
Cardano could see a revival if its DeFi dApps continue to draw users.
There are challenges ahead
Cardano has seen a rapid growth in recent months, however the decline of interest in NFTs may be hampering its progress.
AMBCrypto’s analysis of TapTools’ data showed that Cardano NFTs such as EarthNode and Book.io have seen a considerable reduction.
A significant drop was also seen in the trading volume for these NFTs.
Cardano’s ecosystem could suffer long-term if the growth of its DeFi industry is dominated by other sectors, such as NFTs.
Click Here to Read Cardano (ADA) Price Prediction 2024-25
Despite the waning interest in Cardano NFTs ADA has remained popular. ADA has seen a price increase of 8.11% over the past seven days.
During the same period, ADA’s trading volume also significantly increased.
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Source: ambcrypto.com