• Cardano (ADA) saw a 51.42% price increase in January 2023.
• The Cardano Foundation released on-chain data that revealed increases in transactions, wallets, Plutus Scripts and policies on the network.
• Recent events and developments include Vasil hard fork upgrade, launch of Djed stablecoin and an outage where 50% of nodes went offline temporarily.
Cardano (ADA) Price Increase
The price of Cardano (ADA) has increased 51.42% from January 5th, 2023. This growth could be attributed to recent events and developments for the ecosystem which propelled global adoption of similar protocols.
Cardano Network On-Chain Statistics
On February 2nd, 2023, the official Cardano Foundation Twitter account revealed Cardano’s on-chain data from January. According to the tweet, the public blockchain platform had seen an increase in „transactions using smart contracts and metadata.“ The referenced statistics further revealed that the volume of native tokens, transactions, wallets, Plutus Scripts, and policies on the network had all increased from the previous month of December 2022 with 6.08% increase bordering 5,000 smart contracts on the network. Transaction types were reportedly divided into 31% for smart contract transactions, 46% for simple transactions, and 23% for metadata transactions without smart contracts.
Recent Events & Developments
A notable event for the ecosystem is the Vasil hard fork upgrade launched on September 22nd 2022 to enhance smart contract capabilities on the network. Furthermore DJed stablecoin was launchedon January 31st 2023 accumulating 29.9M ADA in base reserves less than a week after launch with website reflecting 652% reserve ratio at time of writing . However it wasn’t all smooth seas as there was a node outage reportedon Jan 22nd affecting 50% of nodes before they automatically restarted . Charles Hoskinson reassured community that this “blip” was not caused by malicious activity or attack but due to transient anomaly .
The recent upgrades and events in recent months have seen an overall positive impact on Cardano (ADA), with increases across various metrics such as its price increase , transaction volume , wallets , plutus scripts etc . The potential implications these events have internationally are immense as they could pave way for global adoption of similar protocols .
• Cardano (ADA) experienced a 51.42 % price increase in January 2023
• On – chain data revealed increases in transactions , wallets , plutus scripts etc
• Recent events & developments included Vasil hard fork upgrade , Djed stablecoin launch & node outage