According to an April 19 tweet by Input Output (IOHK), the parent of Cardano token, the network has approximately 900 projects in development. The amount has increased by about 400 since March 11, when IOHK Vice President Tim Harrison indicated on LinkedIn that the total stood at approximately 500.
As of today, nearly 900 projects are #BuildingOnCardano⚒️ And this number goes up day by day. Keeping track of all the news from this incredible ecosystem is not easy & this is why every week we compile an ecosystem digest with highlights & updates. 🧵⤵️#Cardano $ADA
— Input Output (@InputOutputHK) April 18, 2022
IOHK selected six projects, ranging from token swaps to decentralised finance (DeFi) apps, that went live on the mainnet, joined test nets, or launched via open beta to highlight some of the good events on Cardano during the last 10 days.
Despite an increase in the number of projects in development, the number of decentralised apps (DApps) operating on Cardano appears to be restricted, with DefiLlama identifying only ten separate platforms accounting for $224.96 in total value locked (TVL). Notably, four of these platforms feature $0 TVL in addition to their native coins.
The AGIX ERC-20 Converter Bride, which was created in partnership with SingularityNET, is one new project that has received a lot of attention.
Cardano’s DeFi sector is likely to benefit significantly from the service’s going online this week, allowing users to convert Ethereum-based ERC-20 tokens for usage on Cardano.
Cardano wallet activity is now seeing rapid growth, with statistics from Cardano Blockchain insights indicating that the number of ADA wallets has surged by 100,000 since March 22. As of April 19, the overall amount was 3.268 million.
During that period, the average number of new ADA wallets each day increased from roughly 2,000 to 8,129. However, the number of transactions/payments per day has scarcely changed, falling from 106,952 on March 22 to 106,525 on April 19.
On the non-fungible token (NFT) front, Cardano isn’t even in the top 15 blockchains in terms of sales volume over the last 24 hours. Since implementing smart contracts in September, Cardano has been a slow burn, with the network failing to really take off and deliver the expected competition to Ethereum, or even fellow “ETH killers” such as Solana, Avalanche, and Flow.
However, in a video broadcast to his YouTube channel recently, founder Charles Hoskinson stated that the tide may soon reverse with the planned Vasil Hard Fork update in June. He claims that it will “significantly boost Cardano’s performance” and its smart contract capabilities.
Read more:
- Cardano-based blockchain Apexaverse plans to enter in the world of Metaverse to create diverse ecosystem
- WingRiders becomes Cardano’s second most popular DEX a week after release
