The number of transactions on the Cardano network has surpassed a significant milestone and reached 71 million.
According to the weekly update from Cardano developer Input Output Global, there have been 71.2 million transactions overall.
Additionally, the total quantity of native tokens has increased and is now 8.55 million. These were produced using 77,035 different token policies. According to the graphic, 134 Cardano projects have been launched, and 1,264 more are in various stages of development.
The on-chain analytics company IntoTheBlock revealed in a Cardano network study it published in May that the Cardano transaction count remained mostly steady throughout negative market circumstances and actually increased from the annual lows.
Additionally, a definite rise in transaction quantities was seen, indicating activity.
The May Hydra improvement appears to be a significant trigger. By processing transactions on a sidechain, Hydra, a Layer-2 scaling solution, increases the throughput and scalability of the Cardano blockchain.
Additionally, according to DefiLlama statistics, the overall quantity of ADA deposited in DeFi apps on Cardano has dramatically grown and hit new all-time highs of 720.27 million ADA.
Other advancements
In IOG’s weekly update, more developments for the Cardano blockchain were mentioned.
Users may test “ADA Handle” functionality for both standard and customised handles in the preview testing environment thanks to the Lace team’s release of version 1.3. Mithril’s mainnet beta launch is also quickly approaching.
A record-breaking 1,577 ideas were submitted for Fund 10 of Cardano’s innovation fund, Project Catalyst, marking the end of the proposal submission process. Before the final edit stage closes, proposal writers have until July 17 to amend their concepts.
