{"id":26808,"date":"2022-10-31T17:41:41","date_gmt":"2022-10-31T12:11:41","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=26808"},"modified":"2022-10-31T17:41:41","modified_gmt":"2022-10-31T12:11:41","slug":"cardano-sees-network-activity-surge-after-vasil-upgrade","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/cardano-sees-network-activity-surge-after-vasil-upgrade\/","title":{"rendered":"Cardano sees network activity surge after Vasil upgrade"},"content":{"rendered":"

After the successful execution of its Vasil hard fork, blockchain network Cardano is witnessing a surge in network activity. Network transactions on the blockchain reached 82,880 on 19 October 2022, according to a report<\/a> by dApp and NFT tracker, DappRadar. This is the highest number of transactions since May.<\/p>\n

Cardano\u2019s Vasil upgrade was activated on 22 September this year, a week after the Ethereum Merge. Full functionality was released on September 27th. Due to network upgrade, dApps built on Cardano blockchain are witnessing an increase in user engagement.<\/p>\n

Meanwhile, the number of unique active wallets on Cardano\u2019s DEX Minswap have increased, by 19.89%, in the last 30 days. Trading volume on Minswap has increased by 15.11%, reaching $77 million.<\/p>\n

Cardano\u2019s digital collectible marketplace, JPG Store, too has recorded growth of 13.66% in unique active wallets in the same period.<\/p>\n

Jump in user engagement on Cardano\u2019s NFT marketplace<\/strong><\/p>\n

In the past 30 days, the network\u2019s NFT volume touched $191 million. The surge in NFT trading volume on Cardano has helped it become the third-largest NFT protocol after Ethereum and Solana. The marketplace witnessed 40% increase in trading volume.<\/p>\n

These hikes also come at a time when the NFT market as a whole has been in the midst of a downturn.<\/p>\n

Other key developments on the Cardano front<\/h3>\n

Despite the NFT marketplace\u2019s rise in trading volume and surge in the network activity, Cardano\u2019s Total Value Locked (TVL) has decreased in the same period. Dropping by close to 20% in the last 30 days, the TVL is currently around the $83.77 million mark.<\/p>\n

Cardano scaling solution, Hydra, also witnessed a new update, causing a spike in Cardano\u2019s development activity over the past week, as evidenced in the chart below.<\/p>\n

\"\"<\/p>\n

Source: Santiment<\/a>\u00a0 \u00a0 \u00a0 \u00a0Chart showcasing an increase in development activity over the last two weeks<\/strong><\/p>\n

In the last seven days, Cardano\u2019s ADA tokens have gained over 13% to reach the $0.41 level. However, the price is still below the current all-time high of $2.94.<\/p>\n","protected":false},"excerpt":{"rendered":"

After the successful execution of its Vasil hard fork, blockchain network Cardano is witnessing a surge in network activity. Network transactions on the blockchain reached 82,880 on 19 October 2022, according to a report by dApp and NFT tracker, DappRadar. This is the highest number of transactions since May. Cardano\u2019s Vasil upgrade was activated on […]<\/p>\n","protected":false},"author":67,"featured_media":26811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-26808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Deepan Datta\",\"description\":\"A keen observer of the crypto market and believes crypto\/blockchain will bring the next phase of the industrial revolution and build an inclusive society.\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/deepan\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ea29018d03e4615947c5df3ce7b4030b?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=26808"}],"version-history":[{"count":1,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26808\/revisions"}],"predecessor-version":[{"id":26813,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26808\/revisions\/26813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/26811"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=26808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=26808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=26808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}