Cardano remains one of the prominent blockchains in the cryptocurrency sector despite the market performance of ADA, its native currency.
An infographic from Cardano Foundation showed that the number of activities grew exponentially in June. The non-profit organisation’s survey outlined the performance of Cardano, including transactions, native tokens, wallets, ADA staked, as well as developer activity.
Santiment, a crypto tracking platform, reported that the development activity of Cardano was highest in June. The Cardano Foundation noted that high development activity shows the following:
“The project is serious about its business proposition.
The project will likely ship new features in the future.
So it’s less likely that the project is just an exit scam.”
Cardano Transactions Surges 5.44%
June was a productive month for Cardano as its on-chain activities grew by 5.44%. This growth indicated that 44.8 million transactions occurred last month, surpassing Amy’s 42.5 million on-chain transactions.
Related: Cardano Founder Calls Bitcoin Developer’s Comment on PoS Consensus Network Stupid
Interestingly, the development shows Cardano’s on-chain transactions have been growing steadily since the beginning of the year, suggesting rising interest in cryptocurrency.
Last month, Cardano ranked first among the top 10 cryptocurrency projects regarding on-chain transaction volume. Cardano’s transaction volume grew exponentially by 369% at the time, surpassing top cryptocurrency projects like Bitcoin, Ethereum, Solana, and Ripple, among others.
This development pleased the Cardano boss, Charles Hoskinson, who gave credit to ghost generators for boosting the transactions on the network.
More Recent Development for Cardano
Compared to May, June saw the number of ADA holders increase to 3.42 million, a 1.81% increase from the previous month. In addition, the blockchain’s native assets were boosted by 6.46% to hit 5.4 million in June.
Significantly, last month saw the growth of developers’ activity by a total of 13,303 comments across all Cardano GitHub repositories.
Since the beginning of 2022, ADA developers have been working relentlessly toward the launch of Vasil Hard Fork, which was initially scheduled to go live last month.
However, Vasil’s rollout was postponed to this month as the team is currently intensifying efforts to identify any flaws associated with the update before it eventually goes live.
Read more: Cardano Releases a New Node For The Upcoming Mainnet Vasil Hard Fork
