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HomeCrypto NewsCardano (ADA) DApps Have Completed A Record 16M Transactions

Cardano (ADA) DApps Have Completed A Record 16M Transactions

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Cumulative transaction volume for all DApps has also surged to 5.8 trillion ADA.

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Decentralized apps (dApps) on the Cardano chain have reached an impressive milestone, completing up to 16 million transactions. The feat underscores the growing adoption of projects on Cardano.

In addition, the number of unique accounts on all DApps has also surged to a whopping 255.2K, according to data from Dapps on Cardano, an analytics platform dedicated to providing insight on projects built on the Cardano chain. The platform highlighted the achievement through its Twitter handle on Tuesday.

Furthermore, data reveals a cumulative volume of 5.3 trillion ADA across all the projects indexed, with an average transaction size of 4.8K. Total transaction fees currently sit at 7.4M ADA at the time of reporting, with an average transaction fee of 0.473 ADA. Moreover, the total collective balance on all the indexed projects sits at a whopping 121.3M ADA. 

Out of the 16M transactions, JPG Store, the largest NFT marketplace on Cardano, has processed the highest number of transactions, sitting at 8.1M. This represents over 50% of the total number of transactions. Minswap, a decentralized exchange, is second on the list, having processed 2.9M transactions. Another DEX, Sundaeswap, follows closely behind, with a total transaction count of 2.6M.

Additionally, DappRadar, a leading app store for decentralized apps across several blockchains, reveals a massive increase in trade volume across Cardano projects, especially DEXs. DappRadar began tracking the Cardano network last September. 

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According to the platform, Cardano DEX Minswap has seen the most significant trade volume in the past week, at $11.09M. JPG Store, however, has had a trading volume of $2.44M in the past 7 days. Notwithstanding, the number of unique active wallets (UAW) on the JPG Store in the past week is nearly three times that of Minswap, with 14.49K UAW. Minswap has seen 5.93K UAW in the past week.

Increase in Cardano Adoption 

In an October report last year, DappRadar highlighted the increase in Cardano’s adoption. According to the report, in the 30 days leading to October 27, 2022, Cardano NFTs’ trading volume surged to $19M, becoming the third largest NFT protocol. The report also revealed a spike in Cardano DApp activity on October 19, as network transactions hit 82,880, the highest in 5 months. 

Furthermore, in November of last year, The Crypto Basic reported a massive surge in Cardano DApps’ unique accounts in less than a week, with DeFi project Indigo Protocol leading. 

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Author

Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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