Over 8 million native assets have been created on the Cardano ($ADA) blockchain, nearly doubling the figure of 5 million in May 2022. It’s worth noting that the Cardano network began accepting these assets on March 1, 2021.
According to pool.pm data, there are already 8.03 million native assets deployed on Cardano over over 70,900 policies. According to Cardano’s documentation, minting policies are a “set of rules that govern the minting and burning of assets scoped under that policy.”
Native tokens are unique assets that can be used “straight out of the box – without the usage of smart contracts.” The documentation for the network states that native assets can “practically be treated as ada in every sense because the capacity is already built-in.” According to the same data source, there are now over 7.5 million non-fungible tokens (NFTs) on the Cardano network, with trade activity increasing over time.
Furthermore, as previously reported by CryptoGlobe, the total value locked on Cardano’s decentralized finance (DeFi) ecosystem has recently reached a new all-time high of 382.8 million $ADA tokens, valued at around $138.77 million at the time of writing. Cardano’s total value has increased this year.
According to blockchain data, ADA has seen growing interest on its network from institutional investors and whales, with the volume of large transactions above $100,000 recently increasing dramatically. The volume of large ADA transactions has been continuously increasing, according to data released by on-chain cryptocurrency expert Ali Martinez, with a considerable spike in the last several months. The increase demonstrates greater interest following a cryptocurrency market rebound and may give information on their investment choices.
Furthermore, research suggests that 80% of Cardano investors are losing money, 4% are at-the-money, or breaking even, and 16% are in-the-money, or sitting on unrealized gains. Cardano advocates argue that the project has a strong development team and a solid vision for the future, which might position it as a long-term contender in the cryptocurrency sector.
The cryptocurrency community anticipates an increase in Cardano for the month of March, as the cryptocurrency’s usage continues to grow.
