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Cardano’s Growth Spurt: Key Metrics and Development Insights

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Cardano Sees Massive Whale Inflows Amidst Market Fluctuations

Input Output Global (IOG) recently released its weekly development update, highlighting Cardano’s impressive performance and progress across various teams within the ecosystem. The report showcases significant growth in several key metrics, reflecting Cardano’s ongoing development and increasing adoption.

Cardano’s total transactions reached 93.3 million, marking a 0.43% increase from the previous week’s record of 92.9 million. Moreover, the number of native tokens within the Cardano ecosystem rose by 40,000 over the past week, bringing the total to 10.17 million. The platform also saw a 3.74% increase in token policies, which climbed from 136,594 to 141,712.

Project Expansion And Plutus Scripts

In addition to network activity, the Cardano ecosystem continues to expand. One new project was added over the past week, raising the total number of projects building on the network to 1,365. Furthermore, 2,970 Plutus scripts were added to the Cardano network, increasing the total to 64,248. While IOG did not highlight Cardano’s total value locked (TVL) last week, the latest statistics reveal that assets locked on the network amount to approximately $547.7 million.

Related articles: Cardano Loses Dev Race Ground Despite Ongoing Upgrades

The IOG team also shared insights into their development efforts this week. The core technology team released version 8.12.2 of the Cardano node to enhance bootstrap peer networking. Concurrently, the Ledger team focused on constraint generator testing, updates to Alonzo UTXO specifications, and conformance test plumbing. They also improved the safety and resilience of the Conway era.

Lace Wallet and Scaling Efforts

The Lace team released a new upgrade for its wallet, offering users an enhanced crypto storage experience. On the scaling front, the Mithril team made significant progress in certifying Cardano transactions. Their efforts included identifying and fixing bugs and supporting Cardano node version 8.12. Regarding Catalyst, IOG revealed that Town Hall 169 premiered this week, featuring ongoing governance developments and resolving issues related to the voting app. 

Related article: Cardano Shows Bullish Signals: Analysts Predict Breakout for ADA

Meanwhile, the Education team continued preparing for the upcoming Cardano development course in Buenos Aires, Argentina, scheduled for next month. They also worked on educational content for “Mastering Cardano” and “Voltaire.” Cardano continues to demonstrate robust growth and development across its network, projects, and technological advancements. 

The dedicated efforts of various teams within the ecosystem are paving the way for a more secure and scalable blockchain platform.

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