• Cardano (ADA) saw a 51.42% price increase from January 5th, 2023.
• On February 3rd, 2023, the official Cardano Foundation Twitter account revealed Cardano’s on-chain data from January.
• Recent events and developments for the Cardano ecosystem include the Vasil hard fork upgrade and launch of Djed stablecoin.
Price Increase
The price of Cardano (ADA) has increased 51.42% from January 5th, 2023.
On-Chain Statistics
The Cardano Foundation has shared statistics reflecting increased transactions across the board on the network. An increase in smart contract transactions on the Cardano network could propel the global adoption of similar protocols. On February 3rd, 2023, the official Cardano Foundation Twitter account revealed Cardano’s on-chain data from January which showed an increase in „transactions using smart contracts and metadata.“ The volume of native tokens, transactions, wallets, Plutus Scripts, and policies on the network had all increased from December 2022 with a notable 6.08% increase in Plutus Scripts bordering 5,000 smart contracts on the network. Furthermore, transaction types were reported to be divided into 31% for smart contract transactions, 46% for simple transactions and 23% for metadata transactions without smart contracts.
Recent Events & Developments
Cardano’s ecosystem has undergone a series of upgrades and events in recent months including Vasil hard fork upgrade launched on September 22nd 2022 to enhance smart contract capabilities as well as Djed stablecoin launch on January 31st 2023 accumulating 29.9M ADA in base reserves less than a week after it’s launch with 652% reserve ratio at time of writing according to their official website. On January 8th 2023 Dogecoin was flipped by market capitalization by ADA however things took a turn when 50% nodes went offline due to “transient anomaly” but quickly restarted according to Charles Hoskinson founder of IOG who reassured community that no funds were lost during this outage .
Global Adoption
An increase in smart contract transactions could propel global adoption of similar protocols based on blockchain technology such as those provided by Cardano Network . This would enable more secure and reliable means for businesses to conduct financial operations while providing greater transparency via real time auditing capabilities enabled by blockchain technology .
Conclusion
Cardano (ADA) is continuing its growth trajectory evidenced by increasing transaction volumes across various metrics causing optimism amongst its stakeholders as it continues its journey towards becoming one of leading blockchain networks worldwide .