The Cardano network reached the milestone of 3,000 smart contracts in early August. Since then, it has shown no signs of slowing down.
Improvements after the hard fork
Just two weeks after the Vasil hard fork, which promised to improve scalability, 100 new smart contracts have been added. On September 22, the date of the update, the number of smart contracts stood at 3,292 compared to 3,392 on October 6. The numbers represent an increase of 100 smart contracts in 14 days.
Incorporating smart contract functionality, increasing the speed and scalability of the blockchain, providing a DeFi application development platform, and making the blockchain programmable are just some of the many improvements introduced by the Alonso update in September 2021. These aspects continue to improve after the latest Vasil update.
Staked Cardano drops to lowest point in 8 months
Despite the Vasil hard fork, it has so far failed to gain substantial momentum in terms of staking value. On October 6, Cardano’s total locked value (TVL) fell below $80 million for the first time since January 2022.
In particular, Cardano’s TVL fell to $76.66 million. That’s a 76.49% drop from a $326 million high it reached on March 24, 2022.
Nevertheless, the crypto community remains optimistic about Cardano’s price. Member votes estimated that ADA would start trading at $0.5873. That is 36% more than the current price.
Currently, Cardano is trading at USD 0.428, down 0.75% in the past 24 hours and 1.97% in the past week. It now stands at a total market cap of $14.6 billion.