It Cardano (ADA) network underwent a major update in September of 2021, making the network smart contract got functionalities. Since then, Cardano has grown rapidly. The number of users increased enormously, but the number of projects built on the Cardano ecosystem has also gained momentum. Last month no fewer than 400 new projects were added!
New projects on Cardano
Today, almost 900 new projects are being developed on Cardano. About a month ago there were only 500. In a month’s time this number has increased by at least 400 projects. So good news for Cardano.
As of today, nearly 900 projects are #BuildingOnCardano⚒️ And this number goes up day by day. Keeping track of all the news from this incredible ecosystem is not easy & this is why every week we compile an ecosystem digest with highlights & updates.#cardano $ADA
— Input Output (@InputOutputHK) Apr 18, 2022
Cardano’s team expects this trend to accelerate further in the near future. Another major update is scheduled for June 29. This time it’s about the Vasil Hard Fork† This update should ensure that the Cardano network can process even more transactions through the so-called pipelining
If history is any indication, there is also a chance that ADA’s share price will rise in the run-up to the Vasil update. The most recent Alonzo hard fork ensured that ADA rose at least 135% to a new one all time high from $2.96.
Cardano growth
Behind the scenes, the Cardano network is doing good business. Developers are building on the network on a large scale. Non-fungible token NFT)† decentralized finance (DeFi) and many more types of projects are currently being developed in large numbers.
In addition, the number of users within the Cardano ecosystem grew by . in the first quarter of this year no less than 500,000† On January 1 of this year there were 2.6 million and just a few months later there were already half a million more. More than 5,000 new Cardano wallets were added every day.