Network activity has reached a historic high as transaction speed increased following the Cardano (ADA) Vasil update.
There has been an unprecedented rise in user activity of the Cardano network. User transactions on the network peaked on October 19, according to Cardanoscan data. 97,959rose to . The sudden rise in question is on a monthly basis. 75% corresponds to an increase. According to the data, the largest share of activity on the network is traded on the Cardano network. NFTs created.
On NFT activity Ethereum (ETH) and Solana’s (LEFT) next Cardano, positioned in third placewithin 24 hours $1.2 million trade hosted volume. Data on Cardano network decentralized stock market (DEX) task muesliswapon user activity in the last 30 days 788% growth recorded.
According to popular commentators, the reason for the rapidly increasing transaction volume on the Cardano network With the Vasil update It is seen as an increase in network transaction speed and a decrease in fees.
Orbis analyst Sooraj, known for his comments on Cardano, made the following statements about the rise in question:
The NFT volume on Cardano is incredible. But wait for DeFi stats. The data will be even more incredible when the true giants of DeFi protocols roll out to Cardano. This crypto winter may be bad for the markets but I have a feeling we will see the rise of DeFi in Cardano in the process.