CryptoMediaClub
Tuesday, July 8, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Cardano Records Impressive 49% QoQ Growth in Dapp Transactions; 10% Rise in TVL: Report

08.08.2023
A A
0
122
VIEWS
ShareShare

Cardano (ADA) has shown promising indications of growth in Q2 despite lackluster market activity. Emerging infrastructure such as stablecoins, programming languages, and wallets are helping Cardano developers to craft advanced applications enriched with enhanced user experiences, according to a new report by Messari.

The blockchain intelligence platform reported that the Cardano ecosystem has managed to diversify with newer protocols that have contributed significantly to various activity metrics even as ADA’s price and market cap suffered a drawdown during the period.

Cardano Ecosystem Growth: Q2

According to Messari’s report titled ‘State of Cardano’ for the Q2 edition, the average transaction rose by 8.5% compared to the previous quarter, going from $0.117 to $0.126. Despite this consecutive quarterly rise, the average transaction fee in USD remains 50.8% lower year over year, primarily due to decreased ADA prices compared to the previous year.

Transaction activity also surged in the second quarter of the year. Average daily transactions increased by approximately 2% QoQ from 67,500 to 68,800. Messari highlighted that the growth is crucial as movement in transactions and active addresses are typically correlated, but have deviated slightly in recent quarters.

Over the last five quarters, there has been a consistent increase in the ratio of transactions to active addresses, indicating heightened user engagement compared to earlier periods. During Q2, the Transaction / Active Address ratio reached 1.19, marking a sequential rise of 6.1% and a year-over-year surge of 13.2%.

ADVERTISEMENT

For the third successive quarter, Cardano has witnessed growth in its average daily dapp transactions. Dapp usage surged with a notable 49.0% increase from the previous quarter in Q2, maintaining an average of 57,900 daily transactions.

Surging Blockchain Activity

Cardano’s total value locked (TVL) saw a 9.7% quarter-over-quarter rise, reaching $151.7 million. This growth in TVL is particularly noteworthy given the decrease in ADA’s price. Furthermore, the layer-1 smart contract platform’s year-to-date TVL has soared by 198.6% (in USD), propelling it from the 34th to the 21st position among all networks in 2023.

Minswap, which happens to be an automated market maker (AMM), continued to hold its position as the liquidity king of Cardano DeFi, concluding the second quarter of the year with a TVL of nearly $50 million and over 32% dominance.

The report also noted that the stablecoin infrastructure is yet another factor fueling this TVL run on the blockchain. Data also suggest that Cardano’s stablecoin market cap climbed up from 54th to 37th in 2023.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share9Tweet6ShareSharePin2

Related Posts

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing
All news

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

08.07.2025
0

The crypto market is showing negative signals today, with the total crypto market cap falling 4.6%. Bitcoin is down 1.5%...

Read moreDetails
Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

08.07.2025
London Duo Jailed for $2 Million Crypto Scheme

London Duo Jailed for $2 Million Crypto Scheme

08.07.2025
ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

08.07.2025
Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

07.07.2025
Load More
Next Post
China’s risky Bitcoin court decision, is Huobi in trouble or not? Asia Express

China’s risky Bitcoin court decision, is Huobi in trouble or not? Asia Express

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Monkey Tilt Raises $30M in Series A Funding for Blockchain Gaming

Monkey Tilt Raises $30M in Series A Funding for Blockchain Gaming

8 months ago
21Shares’ 2025 Outlook Predicts More Bitcoin Adoption and Ethereum Resurgence

21Shares’ 2025 Outlook Predicts More Bitcoin Adoption and Ethereum Resurgence

7 months ago
Exploits, hacks and scams stole almost $1B in 2023: Report

Exploits, hacks and scams stole almost $1B in 2023: Report

2 years ago
Tigran Gambaryan Officially Out Of Nigeria Following News Of Charges Being Dropped: CoinDesk

Tigran Gambaryan Officially Out Of Nigeria Following News Of Charges Being Dropped: CoinDesk

9 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

DDC Enterprise’s Bold Bitcoin Move: Boosting Holdings to 368 BTC Signals Strategic Shift

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

Canaan’s Astounding 1,484 BTC Holdings: A Bitcoin Mining Powerhouse Emerges

Trending

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing
All news

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

08.07.2025
0

The crypto market is showing negative signals today, with the total crypto market cap falling 4.6%. Bitcoin...

Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

08.07.2025
London Duo Jailed for $2 Million Crypto Scheme

London Duo Jailed for $2 Million Crypto Scheme

08.07.2025
Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

08.07.2025
ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

08.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz