February 22, 2024

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Cardano (ADA) network has undergone a major update in the past which has worked marvelously towards increasing the transaction throughput of the network, working on the agility and scalability of the network, and making it more stable than it presently is.

Despite a few reservations proposed by the engineering team about this update, everything went nicely as the main developer of Cardano had his faith hedged into the network itself.

Massive Increase in Cardano Network Activity

For a couple of weeks now, the network has seen a consistent increase in the daily trading volume and the number of active users that are using the resources of the network.

According to a survey, the network is enjoying a 75% whooping increase in the overall transaction throughput and volume of the investors actually using the resources of the network.

This increase is on a month-to-month basis, which means that ADA has managed to skyrocket not only its transaction throughput but the overall trading volume as well.

During these unprecedented times when nothing is certain, and the major cryptocurrencies by market cap, such as the likes of Bitcoin and Ether, are tanking pretty badly, it is nice that there are other cryptocurrencies out there that can bear the load of all the failure the major cryptocurrencies are depicting such as the likes of ADA.

ADA is also considered the third major NFT aggregator out there, as creators, developers, and even the common person can use the platform to host the sales of their NFT tokens or to buy these directly.

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Moreover, the cryptocurrency has even begun the initiation of the DeFi space on its own blockchain, which is going to give a massive boost to an already thriving NFT market for ADA users out there.

If the present data holds any merit, then it is evident that sooner ADA is going to become the top contender among the likes of Bitcoin and Ether because it has got a solid blockchain network, and its capabilities as a DEX are already through the roof.

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