Cardano continues to gain prominence in the DeFi space
11 months ago 2 mins read

Cardano Could Reach $1 as New Protocols, Decentralization Accelerate

Cardano, a third-generation cryptocurrency, had an exceptional month in May, cementing its position as a formidable contender in the industry. The network is gaining momentum and poised to challenge its competitors. Cardano’s development team has been tirelessly pushing out new solutions and expanding the network to meet the surging demand and adoption of DeFi protocols. As Cardano continues to gain prominence in the DeFi space, its native token ADA is making significant strides towards reaching the coveted $1 mark. Cardano May Overview In its monthly development report released on May 31, IOHK, Cardano’s parent company, highlighted the network’s remarkable progress

Cardano (ADA) is trading at around $0.379 per token
11 months ago 1 min read

Cardano ($ADA) Price Down 80% From ATH, Over 70% of Addresses in Losses

The price of Cardano (ADA) has been on a downward trend since its all-time high of $3.10 in September 2021. As of May 31, 2023, ADA is trading at around $0.379 per token. This represents a decline of over 70% from its all-time high. Despite the decline in price, the DeFi activity on Cardano’s network has continued to grow. As of May 31, 2023, the total value locked (TVL) in Cardano’s DeFi ecosystem is over $446 million. This represents a growth of over 1,000% since the start of the year. The growth of DeFi on Cardano is being driven by

Cardano's DEX Volume Surpasses $68 Million
11 months ago 1 min read

Cardano DeFi Market Soars, DEX Volume Reaches $66.88 Million

Cardano’s decentralized exchange (DEX) volume surged by 91% in the past week, reaching $66.88 million, according to data from DeFiLlama. The surge was driven by a significant uptick in activity on Cardano-based DEX platforms, particularly Minswap, which saw a weekly change of 99.72%. Minswap, the leading DEX on Cardano, accounted for the majority of the platform’s volume, with a 24-hour volume of $6.91 million and a seven-day volume of $60.52 million. This represents a significant 90.4% of the total DEX volume on Cardano. Other DEX platforms on Cardano, such as WingRiders and SundaeSwap, also contributed to the overall volume, albeit

Cardano founder Charles Hoskinson shared his vision for the future of the blockchain platform
11 months ago 2 mins read

Cardano Price Could Soar in the Coming Months, Says Hoskinson

In a recent video, Cardano founder Charles Hoskinson shared his vision for the future of the blockchain platform, claiming that it could climb to the top of the cryptocurrencies list soon. Hoskinson attributed his optimism to a number of factors, including the upcoming release of a number of major updates and proposals, as well as the platform’s ongoing efforts to measure and quantify decentralization. One of the most significant updates is the CIP-1694 proposal, which aims to revolutionize Cardano’s on-chain governance infrastructure and turn the network into a truly decentralized government. The proposal is set to be integrated into the

Cardano is set to offer a robust infrastructure and foster innovation in the decentralized ecosystem
11 months ago 2 mins read

Cardano’s DeFi Ecosystem Grows, Fueling Speculation for $1 ADA Price

Cardano is set to experience significant growth following notable developments within its network. Several key advancements were highlighted in the latest weekly development report released Friday, May 19. Hydra Upgrade In scaling efforts, the Hydra team achieved significant milestones with the release of the first mainnet-compatible Hydra node version. These advancements address critical issues that need resolution before integrating Hydra Head with real ADA, ensuring users’ smooth and secure experience. Voltaire Workshops Voltaire workshops also commenced, providing opportunities for collaboration and networking among local Cardano communities. Voltaire is a big upgrade for Cardano in the future. As per the Cardano

Cardano's first Hydra node compatible with the mainnet was launched on May 11 2023
11 months ago 1 min read

Cardano’s Hydra Scaling Solution Goes Live

On May 11, Cardano’s first Hydra node compatible with the mainnet was launched, ushering in a new era of scalability for the blockchain. According to developer Sebastian Nagel, the launch follows months of rigorous testing to ensure that the layer2 scaling solution is ready for prime time. The Hydra protocol aims to enhance the network’s scalability by increasing transaction speed through low latency and high throughput while minimizing transaction costs. With the updated Hydra node API, users can enjoy a smoother experience that accommodates their requests. The launch of the Hydra head is just the beginning, as there are plans

Cardano Emerges as High-Volume Alternative Amidst Record-Breaking Network Fees for BTC and ETH
12 months ago 1 min read

Cardano sees record transaction volume as BTC and ETH fees reach all-time highs

Cardano (ADA) is emerging as the top blockchain in terms of daily transaction volume, taking the lead from Bitcoin (BTC) and Ethereum (ETH), which are currently facing skyrocketing network fees. According to data from the cryptocurrency monitoring and analytics platform Messari on May 9, Cardano recorded a massive $13.25 billion in 24-hour transaction volume, while Bitcoin came in second with $0.59 billion, followed by Ethereum with $3.03 billion. The surge in transaction volume on Cardano is largely attributed to the recent launch of two new meme crypto assets, Snek and Pepeblue, on the blockchain’s decentralized finance (DeFi) applications. As Ethereum’s

Cardano Unleashes Hydra
12 months ago 1 min read

Cardano’s Hydra Scaling Protocol Finally Launched on Mainnet

Input Output Hong Kong (IOHK), the company behind the Cardano protocol, has recently launched the first Hydra head on the blockchain’s mainnet, setting a new standard for scalability on the proof-of-stake (PoS) network. This development is considered one of the most important in the Cardano ecosystem for this year, as it is expected to support the adoption of the blockchain in areas where cheap and fast transactions are required. Hydra is a family of Layer 2 protocols aimed at making the Cardano parent blockchain more usable by scaling its transactions. The goal of the Hydra development is to achieve ultimate

Cardano ecosystem
12 months ago 1 min read

Cardano ($ADA) Reports Impressive Growth: 1,227 Projects Being Built and 65 Million Transactions Processed

Input Output Global (IOG) has released the weekly development report for the week ending on Friday, April 21, 2023, showcasing the latest statistics on the Cardano ($ADA) network. The report highlights the progress of various teams working on core technology, wallets and services, smart contracts, scaling, and governance. Among the updates, the Adrestia team released an update for Cardano-wallet with new endpoints for shared wallets and performance improvements. The Marlowe team added integration tests for ApplyInputs and state pretty-print choices in the Marlowe Explorer prototype. The Hydra team worked on smoke test improvements and enhanced the API for voting use

the founder of Cardano, addressed concerns about the network’s governance structure, reassuring ADA enthusiasts
1 year ago 1 min read

Charles Hoskinson Addresses FUD Over Cardano’s Governance: What You Need to Know

Charles Hoskinson, the founder of Cardano, recently addressed concerns about the network’s governance structure, reassuring ADA enthusiasts and users that development processes will be robust and transparent. In a March 16 video, Hoskinson responded to FUD (fear, uncertainty, and doubt) about CIP 1694, a new governance proposal set to usher in the age of Voltaire to Cardano. The Voltaire era of Cardano will be the fifth major phase of the Cardano blockchain, and is expected to lay out the foundations for decentralized decision-making, ushering the network into a self-sustaining system. Thus, CIP 1694 seeks to build on and extend the

Coin Bureau founder Guy Turner recently shared his bullish outlook on Cardano ($ADA)
1 year ago 1 min read

Coin Bureau Founder Bullish on Cardano ($ADA): Predicts Bright Future Ahead

Coin Bureau founder Guy Turner recently shared his bullish outlook on Cardano ($ADA) during an interview on the CryptoBusy podcast. Turner acknowledged that while Cardano has its issues and detractors, it has made progress with its recent Vasil upgrade, and has a dedicated community which is crucial for the survival of any project. He also mentioned the scheduled upgrades, including the upcoming Hydra upgrade focused on scaling, as reasons for his optimism about Cardano’s future. Crypto analytics firm Santiment recently analyzed Cardano’s positive and negative metrics. On the positive side, the number of “whale transactions” has increased significantly in February,

Cardano smart contracts
1 year ago 1 min read

Over 4,000 Cardano-based smart contracts have been developed

In September 2021, the Cardano (ADA) blockchain underwent a substantial upgrade featuring the integration of smart contracts, thus enabling the network to operate more efficiently and at a greater capacity. Despite a decline in the coin’s price in 2022, the network’s development has advanced significantly. By December 4, the number of Plutus-based smart contracts that were operating on the Cardano blockchain had ballooned to 4,050, a 316% increase from the 947 that were in action at the start of 2021. Once the Alonso hard fork was accomplished, Cardano was able to provide the developer community with a programmable, DeFi application