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HomeAltcoinsIs Cardano network record performance with SundaeSwap really a success?

Is Cardano network record performance with SundaeSwap really a success?

Cardano network reaches an all time high of around USD 80 million.

According to Cardano Blockchain insights, the Cardano (ADA) network has performed excellently for the past two weeks thanks to the launch of its first decentralized exchange offered by Cardano, DEX, SundaeSwap. The total value locked (TVL) in the ADA blockchain hit an all-time high of around USD 80 million. Despite the recent decline in the token price due to the continued market crash. The current average blockchain network usage is 93.19 percent. ADA wallets are also on the verge of breaking the 3 million mark. 

Many ADA enthusiasts have turned to social media to celebrate this important event. However, with solutions for scaling are coming soon, the network reaches its maximum capacity with only one DEX addition. It raises many questions about its usefulness. Reddit user Additional_Till_838 commented: 

“I dislike this because it paints a picture of Cardano’s blockchain being overloaded and struggling to handle the load. This could scare investors away from Cardano and make them think that it is not a reliable blockchain network.”

Not everything went smoothly during the release of SundaeSwap. Soon, user reports of unsuccessful transactions began to circulate on social media. At the time of posting, users are still claiming that their DEX orders are pending despite having submitted them a few days ago. More importantly, the platform is immersed in a widely known commercial dispute over allegations of investor failure for the Cardano CardStarter acceleration program. 

 

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Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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