Cardano’s Projects Activity Lead ADA To 3-Week High: Analysis PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Cardano’s Projects Activity Lead ADA To 3-Week High: Analysis

Time Stamp: January 18, 2022 8:04 AM

Cardano’s project activity leads the ADA coin to a 3-week high after it increased by 8% in the past 24 hours thanks to the new projects that go live on the network constantly so let’s read more in today’s Cardano news.

The price of ADA coin as the native cryptocurrency of the Cardano blockchain surged to a new high of $1.56 on Monday which is the highest point since December. Since then, the token backtracked a little and changed hands at $1.54 but it is still up by 8.2% over the day with an impressive 30.4% gain in the past week. With a market cap of just over $49 billion, Cardano is now the industry’s fifth most valuable network and the price action happens thanks to the flurry of activity on the blockchain including the launch of Pavia as the first-ever metaverse project on the Cardano ecosystem.

Cardano’s projects activity is what makes the network so popular and now as the metaverse seeks to merge the physical realities and virtual realities into one, there are more features and projects that join the network. Pavia came hot on the heels of similar ETH-based projects like the Sandbox Game and Decentrland and some 100,000 plots of virtual land were issued on Pavia which represent a unique NFT with individual coordinates. About 60% of the parcels were pre-sold between October and November with the remaining batch to go on sale in the first quarter of 2022.

The most expensive plot on Pavia listed on the Cardano NFT marketplace CNFT is now sold for 100,000 ADA. SundaeSwap which is also a Cardano-based decentralized exchange announced that its mainnet launch is scheduled for January 20. according to a blog post, the projects will be allowed to create pools from Tuesday and as the team from Sundayswap noted, this will be a fully-functional beta release:

“We are launching with a Beta label because, while the DEX’s smart contracts have been fully audited and the DEX will meet all industry standards for security, the implementation of fully decentralized governance will not be immediately possible due to existing transaction size limits on the Cardano blockchain.”

The Cardano development team is planning a series of improvements to the protocol to address these issues focused on performance optimization and scaling. Cardano is also entering its Basho stage of evolution where more resources will be invested in steadily increasing capacity and throughput to deal with the growth in the Dapp Ecosystem. According to IOHK, this will allow Cardano to onboard thousands and then even millions of new users that range from DEFI enthusiasts to citizens of developing nations.

The on-chain improvements planned by Cardano include a block size increase that expanded to 78KB. IOHK added:

“The goal is for blocks to be propagated to at least 95% of peers within five seconds by reducing the ‘dead time’ between blocks.”

Source: https://www.dcforecasts.com/cardano-news/cardanos-projects-activity-lead-ada-to-3-week-high-analysis/

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