The numbers show that Cardano’s performance in the first quarter was very impressive. Remarkable increases in financial and ecosystem measures have been observed. Red Sheehan is a protocol research analyst at Messari. On April 18, he published the “State of Cardano Q1 2023” report, providing an overview of Cardano (ADA) performance and developments.
Encouraging numbers on Cardano
In the report published by Sheehan, the “overview” section of the network notes that there has been a decrease in the number of new addresses (71.5% QoQ) and average daily transactions (10.6% QoQ). However, there is an increase expenses average transactions. Indeed, they are left from $0.11 to $0.12, an increase of $0.01. As observed Cryptoglobethis is still below the average transaction fee of $0.17 in Q3 2022.
In the same section, we learn that the price of ADA increased by 54% in the first quarter. Thus, with this increaseCardano has risen from the ninth to the seventh largest cryptocurrency by market capitalization. The Treasury balance increased to 1.21 billion ADA in the first quarter, with an increase of 100 million ADA in line with the growth of previous quarters. In terms of ADA, the value was up 9.1% QoQ.
A blockchain that beats the bear market?
The Cardano blockchain represents a layer-1 Proof-of-Stake (PoS) smart contract network launched in 2017. Indeed, it was launched as an alternative to Ethereum and focuses on the security, scalability and sustainability of decentralized applications and systems.. Input Output Global (IOG), Cardano Foundation and EMURGO support the network.
On April 18, the Cardano Foundation released its first report annual. He highlighted the various achievements made by his team throughout 2022. Thus, the new report focuses on the work carried out by the Foundation in three main areas: operational resilience, education and adoption.
Frederik Gregaard, CEO of the Cardano Foundation says he is satisfied with the report. Moreover, he is also proud of the way the report highlights the progress made in their mission. Remember that in the long term, Cardano intends to provide the world with reliable, open and decentralized infrastructures.. Could it trigger the bull run that the entire crypto community has been waiting for for months?
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