Cardano network sees 167% hike in new address

Cardano community saw another milestone in the crypto industry with Cardano with huge on-chain activity with sudden increment in the new addresses, new & more users. 

Cardano is a second-ranked smart contract blockchain Network. Its native token ADA is standing at 7th rank by 24 hours trading volume. In the last few months, Cardano getting huge traction in the crypto industry because of Alonzo Hardfork, which enabled smart contract features in the Cardano blockchain Network. 

On 17 February, popular crypto analyst Ali Martinez notified all the followers that Cardano is moving toward a new milestone slowly, as per on-chain data activity on the Mainnet network. 

Ali noted that Cardano hits around 167% surges on new addresses on the network. And with this spike in the on-chain addresses, Cardano crossed 112.5k addresses. 

The analyst also noted that the latest spike in the price of this network activity surged by the preceding spike in price volatility of its native token. 

If we look in the data available on Messari then we will find that Cardano is also standing above Ethereum just after bitcoin, in terms of adjusted transaction volume, which is showing that people are showing more inclination toward ADA coin to transfer funds. 

Cardano network Crossed Ethereum network on-chain transactions with $15.06 billion, while Ethereum had $6.71 billion worth of transactions in 24 hours. 

Defi Protocols in Cardano Ecosystem 

In the last week of January of this year, the total numbers of Defi protocol-based platforms development work crossed 1,000. This number is not only a milestone but hinting that the smart contract feature in the Cardano Blockchain network was a necessary need, which was introduced by the IOHK developers in September of last year. 

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