The most popular cryptocurrencies in Cardano (ADA) Last year, the Alonzo Hardfork took place on this very day. According to data from the Cardano Foundation alonzo After the update, more than 3000 smart contracts used the ADA network.
Cardano Foundation celebrates Alonzo’s anniversary with monthly new ADA network on-chain shared data.
#Cardano Monthly On-Chain Growth 🚀
This month we see a great boost of upward movements across key metrics including a nice uplift in the use of #SmartContracts.💥
#Blockchain #BuildingOnCardano pic.twitter.com/62blWJjtDu
— Cardano Foundation (@Cardano_CF) October 6, 2022
According to the data shared by the foundation, the past month has been quite productive for the ADA network.
Last month, the number of active wallets on the Cardano network increased by 1.34% to 3.60 million, according to on-chain metrics.
Another data shows that the transfer between wallets is increasing. The number of monthly transfer transactions on the ADA network increased by 4.20% to 51.2 million. Half of the transfers consist of simple ADA token transactions.
100 Projects Are Produced Weekly in Cardano!
One of the leading blockchain companies Input Output Global published a weekly report on Cardano.
According to IO Global’s weekly report, exactly 100 projects were launched in the Cardano network in just one week.
While the activity in the ADA network continues to increase rapidly, Cardano developers continue their work at full speed. Over the past few weeks, the Vasil Hardfork update, which includes a number of improvements for the network, has been released, albeit belatedly.
Despite the activity on the network, renowned analyst Peter Brandt expects a drop in Cardano. Brandt announced on his Twitter account that he expects ADA to fall as low as $0.25.
the $ADAUSD chart is a classic descending triangle per Schabacker, Edwards and Magee and suggests a possible decline to sub .25. Do charts always work? — not really, but when they do it is a thing of beauty. Note — I do NOT short #8hitcoins pic.twitter.com/HP6mEbChJq
— Peter Brandt (@PeterLBrandt) October 5, 2022
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