April 20, 2022
Activity on the Cardano (ADA) blockchain has increased substantially recently as 400 new projects are in the works. The last month has also seen 100,000 new wallets created on-chain.
The creators of Cardano, Input Output (IOHK) posted on Twitter on April 19 that there are nearly 900 projects in development on the network. The number of projects has grown around 400 projects since March 11, according to a LinkedIn post from Tim Harrison last month. The IOHK Vice President, stated that the total number of projects on the Cardano chain stood at 500.
IOHK highlighted six projects, that went live on the mainnet, had launched via open beta, or that entered testnets. These six projects range from token swaps to other DeFi applications.
One of the upcoming projects that has piqued public and investor interest is the AGIX ERC-20 Converter Bridge. The project was developed in collaboration with SingularityNET and went live this week, enabling users to bridge over ERC-20 Tokens for use on the Cardano network. It is expected that the network’s DeFi sector will benefit significantly from the tool.
According to data from Cardano Blockchain, wallet activity on Cardano has been one area of the network that has seen strong growth. The data shows that the number of ADA wallets has increased by 100,000 since March 22. During this period, the average rate of new ADA wallets per day increased from 2,000 wallets per day to 8,129 wallets per day.
( At the time of writing, the total number of wallets is around 3.268 million)
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