Cardano [ADA] One of the most developed crypto networks has reached two important milestones ahead of the long-awaited (delayed) hard fork.
The Vasil upgrade will bring “huge” performance improvements, at least that’s what the community predicts.
ADA holders/community saw continued development ahead of the upcoming upgrade. The eighth-largest coin saw a fresh surge despite previous setbacks. On CoinMarketCap, ADA is trading above $0.5 due to the recent rally.
The same bullish stance is reiterated by the number of Cardano wallets and smart contracts deployed on the network.
According to data from Cardano Blockchain Insights, a total of 3,105 Plutus-based smart contracts have been deployed on the network. In fact, that number has risen to 2,900 since July.
This demonstrates Cardano’s ability to allow users to write applications that interact with the blockchain.
This also explains why Cardano has always been at the top of the most developed networks.
Furthermore, even Cardano holders support the network regardless of price.
As can be seen on the same data platform, the total number of ADA wallets is Record 3,502,565 on Aug. 3.
Here, Cardano has managed to add over 500,000 new holders in the past six months despite the price correction. Even a delayed upgrade can’t stop the promise of ADA enthusiasts.
Moving to the DeFi frontier, Cardano saw a modest 6% increase in TVL on DeFiLama.At the time of writing, the total value locked standing was $93 million and continues to rise.
In fact, FluidTokens, a DeFi lending platform that allows users to borrow and lend with CNFT as collateral, has grown by 54,000% in the past month.
That being said, the network did drop significantly from its all-time high TVL of $326 million on March 24.
The chain says…
Surprisingly, Cardano’s online activity paints a green picture. At press time, 24-hour active addresses on Cardano have improved significantly.
Also, at the time of writing, the metric is at 78.4k. At the same time, development activity did see an expected slump.
Nonetheless, Charles Hoskinson’s regular interaction with the community and developments surrounding the hard fork may help the coin reach new heights.