• Cardano’s monthly on-chain statistics show the network has now hit 8 million native tokens and more than 4 million unique wallets.
• Transactions carried out in March have reached 64 million, while wallet holders increased by 1.44%.
• Plutus scripts have also crossed 5,000 after surging by 1.67% in the month of March.
Network Expansion
Cardano (ADA) is making great strides as its network continues to expand its reach, value and overall development with its most recent Monthly On-chain statistics showing that it has now hit 8 million native tokens and more than 4 million unique wallets. The number of users on the Cardano network has seemingly skyrocketed in the month of May with a 2.96% increase in the number of transactions carried out on the Cardano blockchain last month totaling 64 million wallet holders increasing by 1.44%. Delegated wallets are up by 0.49%, as a result, the total number of delegated wallets is now totaling 1.28 million and policies shut up by 1.40%, bringing the total to 71,160.
Plutus Scripts
Cardano is dedicated to improving its network policies, and last month was no different with Plutus scripts being used to validate a network action reaching 5,234 after surging by 1.67% in March. Plutus scripts are scripts that are used to validate a network action which saw an increase this past month as well as native tokens soared by 2.63%.
Community Optimism
The Cardano community members maintain optimism that on-chain performance can influence ADA’s price in April as expectations for Cardano (ADA) price remain high due to its recent milestones achieved throughout the month of March showing an impressive expansion across all metrics such as transactions, number of wallets hosted and plutus scripts crossing 5,000 among others allowing for great potential within this ecosystem moving forward into April 2021 and beyond..
Statement from Cardano
Taking to Twitter , Cardano shared six metrics that highlighted their progress throughout the month of March stating: “#Cardano Monthly On-chain Growth 🚀🎉 Over 8 MILLION native tokens🎉 Over 4 MILLION wallets #CardanoCommunity #blockchain”
Price Follow Suit?
Can the ADA price follow suit? It remains uncertain however with their continued growth across all metrics within their ecosystem it could be possible given enough time for them to reach even greater heights than before within this industry allowing them to potentially compete against other leading networks such as Ethereum or Bitcoin at some point down the line if they keep up this momentum seen over these past few months since 2021 began!