Cardano (ADA) has been attracting attention with a significant increase in transactions exceeding $100,000 in the past three months. This increase is considered as an indication of the growing interest of institutional players and whales in the altcoin. The latest data provided by the Cardano Blockchain explorer points to the institutional impact on Cardano with over 1.5 million transactions, particularly in Epochs 450, 451, and 452.
The Cardano ecosystem is constantly evolving, as evidenced by the 150 projects recently launched and the ongoing 1,304 projects, showing a strong and dynamic ecosystem. This could be another reason for the increase in transaction volume.
The creation of 9.1 million tokens in Cardano showcases its wide customization options. Additionally, the creation of the 81,447 token policy reflects the various use cases of Cardano’s asset creation capabilities.
In addition to the growth in the Cardano ecosystem and network activity, Cardano developers are actively working on scalability solutions. These efforts increase node efficiency and strengthen the infrastructure. Furthermore, the completion of Fund11 proposals demonstrates the platform’s commitment to innovation and community-based project funding.
Cardano’s DeFi ecosystem once again outperforms its competitors in terms of total value locked (TVL). According to DeFi Pulse, Cardano’s TVL exceeded $340 million, an increase of over 50% within the year, reaching its highest level in the past 19 months. The TVL of the first non-custodial application running in Cardano’s DeFi ecosystem accounts for 78% of the total TVL. Meanwhile, the price of ADA has increased by over 3% in the last 24 hours and over 6.5% in the last 7 days. With the recent gains, ADA’s price is approaching a 30% increase in the past year. The popular altcoin is currently trading around $0.41.