Cardano: Assessing Q1 2023 ADA Performance And Its Path To Q2


Interestingly, a lot more people bought than sold in Q18,900 verified NFT projects on Cardano Cardano NFT in Q2 2023. Data from Santiment revealed that the total number of NFT trade counts decreased from the start of the new quarter. Another interesting fact is that the number of unique sellers rose by over 300, and the number of unique buyers fell during the last 30 days. The Messari report mentioned that despite a massive increase in market capitalization, the Cardano network failed to attract new users. New addresses and average daily transactions decreased QoQ by 71.

Cardano’s performance in the NFT space ran into some obstacles. For example, daily NFT transactions were down 27% last quarter. Early on, one of the most notable updates was that Cardano’s market capitalization increased by more than 50% quarter-over-quarter, from $86 billion to $13Two billion. Messari released a report on Cardano on April 19, showing its status in the first quarter of 2023. A report by Messari cited that massive deFi performance could be attributed to the adoption of the Djed stablecoin on the network. The Cardano transaction fee increased during the last quarter but was still lower than in Q3 2022.

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