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HomeCrypto NewsCardanoHow Has Cardano (ADA) Performed in 2022?

How Has Cardano (ADA) Performed in 2022?

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Undoubtedly, 2022 will be one of the worst years for the crypto-verse. Mass layoffs, bankruptcies, and the bear market brought down the entire industry. While some assets managed to stay afloat, others went under. The Cardano Foundation, on the other hand, shared a Twitter thread highlighting the network’s performance throughout the year.

Cardano’s on-chain metrics were improving. The network is home to over 7.3 million native tokens, according to the Foundation. This represents a 192 percent increase since 2021. Furthermore, there have been 4,445 Plutus scripts since 2021, representing a 394 percent increase.

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According to the tweet above, the total number of transactions in the Cardano network has increased by 139 percent since last year. This year, the network saw 56.9 million transactions. The total number of wallets followed suit, reaching a high of 3.80 million, a 47 percent increase. It should be noted that delegated wallets increased by 27%, bringing the total number to 1.24 million.

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Collaborations Take Center Stage

The Cardano Foundation and network have entered into several partnerships and collaborations this year.

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While these collaborations were important to the network, a few stood out above the rest. For example, in November, the UN Refugee Agency’s national partner in Switzerland and the Cardano Foundation formed a new partnership known as Switzerland for UNHCR [United Nations High Commissioner for Refugees].

The network’s three-year collaboration with the University of Zurich’s Blockchain Center should be highlighted.

Furthermore, the Cardano Foundation collaborated with the Bolnisi Winemakers Association, Scantrus, and Georgia’s National Wine Agency to develop a solution on the Cardano blockchain to ensure the quality and authenticity of Georgian wine.

Cardano Improvement Proposals [CIP] Have Grown by 100 Percent

In 2022, the number of proposals increased by 100%. There were 155 pull requests, 38 new CIP authors, 50 evaluated proposals, 20 proposals under consideration, and nearly 2,700 comments in 2022.

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Related Article: Cardano: Increase of 62,000% as The Leading Project Soars And Propels The Ecosystem

In addition, the long-awaited Vasil hard fork occurred on September 22. After Ethereum’s Merge earlier this year, this was expected to be one of the most significant events in the crypto-verse.

Given the arrival of the bears in the market, these optimistic ideas came as quite a surprise to the community. But did these on-chain metrics have a positive impact on ADA’s price?

Cardano [ADA] and Its Downward Trajectory

ADA, like its peers, saw a significant drop this year. In January 2022, the asset reached a high of $1.596. However, the asset dropped to a low of $0.249 earlier today.

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The increased on-chain activity appears to have prevented ADA from falling any further. However, the asset is still trading 91.85% below its all-time high of $3.10.

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