- Cardano continues to grow, with 1,989 projects now building on its network.
- Cardano’s ecosystem sees a steady increase in delegated wallets and native token issuance.
- Lace wallet expands multi-chain capabilities, starting with Bitcoin integration.
The founder of Cardano Charles Hoskinson has actively responded against criticisms about naming Cardano a “ghost chain”. His comments came in reaction to a report by Fast Company, which raised concerns about artificial trading volume in the crypto industry.
The report, based on a study from Cornell University, highlighted that some crypto projects inflate their metrics to generate hype. Hoskinson criticized such reports, emphasizing that Cardano’s growth is rooted in genuine user activity rather than inflated numbers.
Cardano’s Strong Development Progress
Despite earning the “ghost chain” designation Cardano continues to show consistent progress. The Cardano ecosystem keeps growing according to the Input Output development update. As of now, 1,989 projects are under development on the network. This represents a notable growth of Cardano blockchain adoption through the use of its blockchain reaching significant levels. Furthermore, reliable data shows 1.328 million wallets participated in delegation activities which indicates a slow but steady weekly growth at a rate of 0.07%.
The number of native tokens issued on the network has also risen significantly, with 10.72 million tokens now in circulation. In addition, Cardano’s token policies have reached 210,662, marking a 0.14% growth from the prior week. These figures underline the ongoing and genuine growth within the Cardano ecosystem.
Smart Contracts and Governance Progress
Public adoption of smart contracts on Cardano stays prosperous as 129,374 Plutus scripts combine with 5,691 Aiken scripts deployed on the network. The network demonstrates a continuously rising demand for decentralized applications (dApps) with ascending figures of 129,374 Plutus scripts and 5,691 Aiken scripts. Cardano advances its governance system through 1,217 decentralized representatives (DReps), where the current active participation reaches 923 representatives. Participation rates in Cardano’s decentralized decision-making function remain high based on these assessments.
In terms of transaction volume, Cardano saw a 0.16% increase, with 107.69 million transactions processed. This reflects the platform’s ongoing utility and adoption by users worldwide.
Lace Wallet Expands Multi-Chain Support
In an effort to improve Web3 interoperability, Lace, Cardano’s official wallet, is expanding its capabilities. The wallet is now supporting Bitcoin transactions, allowing users to store, manage, and interact with Bitcoin directly from the Lace wallet. This integration positions Lace to support Bitcoin layer-2 protocols and decentralized finance (DeFi) applications, enhancing Cardano’s multi-chain strategy.
The growth of institutional adoption at Cardano continues to rise as both Coinbase seeks CFTC self-certification for Cardano futures and AMINA Bank provides staking services on the network. The recent market activities demonstrate that stakeholders believe Cardano possesses enduring value within blockchain technology fields.
