Facts About Cardano Market Evolution
This is just market data before the Vasil Hard Fork. (Thanks to $goofycrisp)
Last updated
This is just market data before the Vasil Hard Fork. (Thanks to $goofycrisp)
Last updated
It has only been 9 months since the new era of smart contract capabilities on Cardano and there are already:
5.3 million tokens on-chain and 1017 projects in development.
Most related to NFTs, community & social, DEX, oracles, metaverse and gaming.
Over 400k on Cardano blockchain and rising fast.
Blockchain growth
In the last 12 months, the number of Cardano addresses has increased by 96% (3.7M) while on Ethereum it has increased by 38% (83.1M). The number of active addresses on Cardano has decreased by 4% (78.8K) while on Ethereum it has decreased by 28% (495.5k).
NFT trading volume
Cardano is now the third largest NFT market, all chains combined. There is still a lot of room to grow to reach Solana and Ethereum.
Cardano NFT user growth
From April 29th to June 8th, Cardano’s biggest marketplace reported that the number of unique wallets connected to its website increased by 50% in 40 days while Opensea increased by only 10%. In 2021, it took 81 days to Opensea to do the same.
Opensea vs JPG store trading volume per user
The Ethereum avg wallet has traded 2.8x more than the avg Cardano wallet in USD equivalent in the last 30 days.
Cardano eUTXO model is perfect for NFTs and dApps
Compared to ETH, ADA transaction model is a no-brainer for scalability:
Multiple assets in one transaction Low and steady transaction fees.
Predictable fees thanks to the inherent determininsm of the model.
“A picture is worth a thousand words”
Offers
User profile
Notifications
NFT minting
Trait and price filtering
Along with a peer-reviewed open-source contract and new backend infrastructure.
Opensea vs jpg store capabilities
User experience and interface is now very similar to opensea which can only make it easier to adopt Cardano NFTs. Team is now focussing on releasing new features including bundles, auctions, collection offers and bulk buy (shopping cart).
Main Difference: in Cardano bundled sales are done in one transaction with same low fees in parallel and more secure!
The whole NFT ecosystem is innovating
Key players are adopting Cardano
Grayscale increased their allocation towards Cardano in their Smart Contract Platform Ex-Ethereum Fund, now 32.33%. Ledger also announced the integration of Cardano on their Ledger Live platform.
Cardano improvements with Vasil hard fork
Upgrades:
Diffusion pipelining (increase tx speeds)
Reference scripts/inputs (faster, cheaper, and more complex smart contracts)
Inline datums (on-chain data storing capability)
It will lead to better user experience and dApps.
This is just the start
We may be in the middle of a bear market but the Cardano NFT space doesn't feel like it. There are many improvements to come both on the blockchain and on the projects. I think it's safe to say next few months will be very interesting, buckle up.
More secure thanks to
Cardano biggest NFT marketplace is improving fast Only in the last 3 months added many features:
Tools like and are always releasing new features and improving user experience. Just like on Ethereum, you can search for collections, track market stats, and view trends
makes role and discord integration seamless.
handles multiple large collections at once without creating blockchain congestion.
launched its automated trading & sniping chrome extension.
Source: (20th June, 2022) by
