The Cardano (ADA) network has processed over 100 million transactions since launch, according to a recent update from Input Output Global (IOG), the organization responsible for Cardano’s research and development.
In a series of posts on X, Input Output detailed that as of November 29, the organization was aware of 1,979 projects building on Cardano, with 603 building within its ecosystem.
In the past month alone, token policies on Cardano grew by 10,132 to 182,230, while the number of native tokens surged by 80,000 to 10.54 million. The total number of transactions processed on the network rose by 2.65 million to surpass the 100 million milestone and hit 100.57 million.
Input Output’s update also notes that Plutus scripts on the network rose by 9,102 to a total of 100,800, while the team behind Plutus “wrapped up their work on serializing Agda proof objects, moving them closer to providing a usable tool for certified compilation.”
The organization’s report comes at a time in which the total value locked (TVL) on the Cardano ecosystem has soared past the $700 million mark as it recovers from the cryptocurrency bear market that saw it drop to a $50 million low back in November 2022.
According to DeFiLlama data, there are currently $702 million locked in smart contracts on the Cardano network, up from little over $53 million after the collapse of popular cryptocurrency exchange FTX.
TVL is often seen as a key indicator of the health and trust in a DeFi ecosystem, as it reflects the growing interest and adoption of the network by investors. An increase in TVL usually signals rising confidence in the project.
In addition to the TVL growth, Cardano’s decentralized exchanges (DEXs) reported a trading volume of $26 million in the last 24 hours. The network has also been greatly benefiting from a surge in the price of its native token, ADA.
Over the past month, the price of ADA is up more than 220% to now trade at $1.16 per token, up from around $0.359. The cryptocurrency was, however, affected by a significant correction over the last 24-hour period and dropped around 5% as a result of a wider crypto market downturn.
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