Cardano’s transactions surge: Impact on key metrics and ADA

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  • Car­dano trans­ac­tions increased by 1.8 mil­lion in May.
  • Active address­es and dai­ly active address­es increased, but ADA price declined by 8%.

Car­dano [ADA] recent­ly unveiled its month­ly roundup, show­cas­ing a remark­able trans­ac­tion surge with­in its net­work. But let’s explore whether this growth res­onat­ed with oth­er cru­cial met­rics and ADA. 

Transactions on Cardano increases by 1.8 million

In a recent update on May 31, Car­dano pro­vid­ed insights into the activ­i­ties on its net­work. One of the most sig­nif­i­cant high­lights was the sub­stan­tial surge in the num­ber of transactions. 

Accord­ing to the report, Car­dano wit­nessed a remark­able increase of 1.8 mil­lion trans­ac­tions, push­ing the over­all count to 67.2 mil­lion trans­ac­tions. This surge in trans­ac­tion vol­ume was not the only note­wor­thy event dur­ing the month.

In addi­tion to the trans­ac­tion spike, there was a sig­nif­i­cant rise in the cre­ation of native tokens on the Car­dano net­work, with an increase of 150,000 tokens. 

More­over, the launch of Mar­lowe, a col­lec­tion of open-source tools designed to sim­pli­fy the devel­op­ment, test­ing, and deploy­ment of secure smart con­tracts on the blockchain, took place on the network’s mainnet.

Con­sid­er­ing all these devel­op­ments, it is worth explor­ing whether these advance­ments sig­nif­i­cant­ly impact­ed the on-chain activ­i­ty with­in the network.

Cardano active addresses see a slight uptrend

Santiment’s analy­sis of Car­dano‘s 30-day active address­es met­ric revealed an inter­est­ing pat­tern, par­tic­u­lar­ly towards the end of May. 

The accom­pa­ny­ing chart depict­ed a mixed response in the num­ber of active address­es dur­ing this peri­od. Around May 20, there was a notable decline from approx­i­mate­ly 1 mil­lion active address­es to around 945,000.

How­ev­er, a pos­i­tive trend emerged around May 28. As of this writ­ing, the active address­es have reached the 1 mil­lion mark again.

Cardano 30-day active addresses

Source: San­ti­ment

Fur­ther­more, com­par­ing the begin­ning and end of May, there was a clear increase in the num­ber of dai­ly active address­es. On May 1, the dai­ly active address­es were approx­i­mate­ly 60,000, but by May 31, they had risen to around 82,000.

As of this writ­ing, the active address­es stood at over 21,000. This indi­cat­ed ongo­ing engage­ment with­in the Car­dano network.

Cardano daily active addresses

Source: San­ti­ment

TVL and price show divergence

Exam­in­ing Cardano’s price tra­jec­to­ry revealed a less pos­i­tive pic­ture than its trans­ac­tion­al growth. Accord­ing to the price trend tool, ADA expe­ri­enced a decrease in val­ue of over 8% through­out May. 

As of this writ­ing, it was trad­ing at approx­i­mate­ly $0.36, indi­cat­ing a loss of over 3%. The Rel­a­tive Strength Index (RSI) con­firmed a bear­ish trend, as it remained below the neu­tral line and showed a con­tin­u­ous down­ward movement.

ADA/USD price trend

Source: Trad­ingView


How much are 1,10,100 ADAs worth today


On the oth­er hand, Cardano’s Total Val­ue Locked (TVL) on DefiLla­ma pre­sent­ed a dif­fer­ent per­spec­tive, dis­play­ing an upward trend. The TVL stood at around $172 mil­lion at press time, sug­gest­ing a pos­i­tive tra­jec­to­ry on the chart.

Car­dano has wit­nessed sig­nif­i­cant pos­i­tive trends in key met­rics, includ­ing increased trans­ac­tions and TVL. How­ev­er, the move­ment in price was yet to align with these met­rics and may poten­tial­ly con­verge in the forth­com­ing months.



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