Cardano network reaches 90 million transactions
NAIROBI (Coinchapter.com) – Cardano has achieved a significant milestone, recording a staggering 90 million transactions on its network. This achievement highlights Cardano’s growing adoption and underscores its commitment to building a robust and scalable blockchain platform. The surge in transactions comes as Cardano is preparing for a major upgrade designed to further enhance its capabilities.
The Cardano ecosystem is rapidly expanding, with 169 projects launched and 1,357 currently in development. This growth is underpinned by a robust infrastructure supporting 9.96 million native tokens, 117,275 token policies, and 43,933 Plutus scripts, demonstrating Cardano’s versatility and scalability.
Transformative Upgrades Driving Cardano’s Growth
The upcoming upgrades are a landmark moment for Cardano. These improvements will enhance efficiency and expand use cases, representing a significant leap forward.
In the second quarter of 2024, the Chang hard fork will give ADA holders voting rights and advance decentralization. Meanwhile, Ouroboros Leios aims to improve transaction efficiency and scalability, which is critical to Cardano's growth.


Source: X
Charles Hoskinson, founder of Cardano, expressed confidence in the ecosystem’s trajectory, saying, “As an ecosystem, we have all the chips in place. We are at the forefront of scalability, governance, and innovation. We also have the best community.”
The network’s consistent resilience is demonstrated through its more than 2,300 days of continuous uptime, a testament to its reliability and commitment to providing a stable blockchain environment.
ADA Price Analysis and Market Performance
According to Coingecko, as of May 7, ADA is trading at $0.450, down 4.22% over the past 24 hours. Despite the recent decline, ADA has a market cap of $16.09 billion and a fully diluted valuation of $20.31 billion, firmly establishing Cardano as one of the top cryptocurrencies by market cap.


ADA/USD 1-day price chart. Source: TradingView
Earlier this month, the ADA/USD pair plunged above $0.50. It broke the $0.480 and $0.450 support levels and tested the $0.4180 area. The currency started a recovery after trading near the $0.4179 low. The price broke the $0.4250 and $0.440 resistance levels, and the 23.6% Fibonacci retracement level of the last decline from the $0.5219 high to $0.4179 low.
Technical analysis suggests a possible slowdown. The 4-hour MACD for ADA/USD is losing momentum in the uptrend zone, and the 4-hour RSI is below 50. The key support levels are $0.4420 and $0.4180, while the resistance levels are $0.4600 and $0.4800.
Activity on the Cardano network shows strong adoption. In the past 24 hours, the network has seen $224 million in real transaction volume, with a market cap of $16.09 billion. Additionally, decentralized exchange (DEX) volume has reached $122 million in the past 30 days, with a total locked value of $286 million. These figures highlight the continued growth and utilization of the Cardano ecosystem.