Cardano (ADA) Hits 94 Million Transactions in Epic Milestone

Cardano ADAUSD has surpassed 94 million transactions, highlighting the network’s increasing adoption. The network is also preparing for the significant Chang upgrade expected in August 2024.

Points

• Cardano surpassed 94 million transactions.
• Total value locked on the Cardano network is 548.4 million ADA.
• Chang upgrade, the first hard fork during the Voltaire phase, is anticipated for August 2024.
• Cardano node v.9.0.0 release and necessary upgrades for SPOs.
• ADA price was up 0.4% in the last 24 hours to $0.432.

Cardano ADAUSD has reached a major milestone by exceeding 94 million transactions, showcasing the network’s growing adoption. Input Output Global’s （IOG） latest weekly report reveals that Cardano’s total value locked （TVL） is now 548.4 million ADA, with 10.2 million native tokens minted across 146,328 token policies. Additionally, there are 67,950 Plutus scripts and 1,368 projects currently building on Cardano.

CoinShares’ recent report indicates that digital asset investment products saw inflows of $1.35 billion last week, totaling $3.2 billion over the previous three weeks. Cardano marked its second consecutive week of inflows, reporting $0.4 million last week. At the time of writing, ADA was up 0.4% in the last 24 hours, trading at $0.432.

Preparations for the Chang upgrade are ongoing. Scheduled for August 2024, the Chang upgrade marks the first hard fork on the Cardano network during the Voltaire phase. Extensive testing is crucial to ensure system robustness for the upcoming transition to the Conway era. The Lace team is preparing for the release of Lace v.1.14, expected within weeks. Additionally, with the release of Cardano node v.9.0.0, node users are alerted to upgrade in preparation for the Chang upgrade, requiring a small configuration update to version 9.1.0. A hard fork combinator event will occur once 75% of SPOs upgrade to version 9.1.0.