The Cardano (ADA) network has been busy lately. The total number of transactions processed has increased impressively in recent months, indicating growing demand for the blockchain.
4 million new Cardano transactions
Input Output Global (IOG), the company behind the development of Cardano, divided Last Friday he published his weekly update on the social media platform X. It discusses the latest developments on the network.
The most noticeable thing is the increase in the number of transactions. In the last 2 months, no less than 3.9 million transactions have been processed on the Cardano blockchain. This brings the total number of transactions to 82.7 million.
During the same period, 8 new projects were launched in the network and another 17 are in development. This brings the total number of projects launched to 157, with a further 1,320 in development.
An additional 480,000 new ones were added last week indigenous Tokens minted on the network. This brings the total number to 9.48 million.
Additionally, Plutus scripts that enable smart contracts on the network have seen significant growth. In the last 7 days, 81 V1 scripts and 13,091 V2 scripts were added to the total stack. In total, the network now has 6,332 V1 scripts and 17,718 V2 scripts.
The Cardano price is having a difficult time
While things are looking good behind the scenes for Cardano, the underlying price has been struggling recently.
The price is currently well below its absolute peak in mid-December. A high of $0.6789 was reached in the middle of the holiday month, but at the time of writing the price is more than 25 percent lower at $0.5040.
However, the price has recovered slightly in the past week. To be precise, Cardano is 2.67 percent higher than at the beginning of the week.
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