Cardano’s growth pace remains at extremely high level despite crisis on cryptocurrency market
According to the Essential Cardano website which continuously tracks updates around the Cardano network and key blockchain metrics, the number of actively developed applications in the ecosystem has reached 1,040, in addition to a variety of other stats we’re going to cover.
Rising number of scripts and applications
The most notable statistics shown on Essential Cardano’s infographic is the number of currently developed solutions and applications on Cardano and a spike in the number of Plutus scripts.
Two metrics are highly correlated, as developers are constantly using smart contract technology to bring new functionality to their apps. With the Vasil hard fork, it is possible to embed dApps on Cardano and add completely new functions to them.
Besides the large number of projects that are currently being developed, developers launched almost 100 brand new projects on Cardano last week. This is a big milestone for the network that introduced smart contracts technology less than a year ago.
Cardano NFTs on the Rise
The biggest increase in the ecosystem is related to the number of NFT projects on Cardano which saw a massive increase of 6,304 new projects. With relatively low fees, fast transaction processing, and a relatively uncrowded market, Cardano is attracting more artists every day to create new collections and NFT-related projects.
Cardano remains one of the most actively developed networks in the whole cryptocurrency industry, with over 2,500 Github commits in the last week alone. Such a rich development process mainly affects Cardano’s fundamental value, which, unfortunately, is not projected in ADA’s market performance.
