Over 8 million native assets have been minted on top of the Cardano ($ADA) blockchain, nearly doubling the figure seen in May 2022 when there were 5 million. The Cardano network, it’s worth noting, started accommodating these assets on March 1, 2021.
According to data from pool.pm, there are now 8.03 million native assets on Cardano deployed across over 70,900 policies. Minting policies, according to Cardano’s documentation, are a “set of rules that govern the minting and burning of assets scoped under that policy.”
Native tokens themselves are bespoke assets that can be interacted with “right out of the box – without the use of smart contracts.” The network’s documentation notes native assets can “practically be treated as ada in every sense because the capability is already built-in.”
The same data source shows that there now are over 7.5 million non-fungible tokens (NFTs) on top of the Cardano network, with their trading activity growing over time.
Meanwhile, as CryptoGlobe reported, the total value locked on Cardano’s decentralized finance (DeFi) ecosystem has recently hit a new all-time high of 382.8 million $ADA tokens, worth over $138.77 million at the time of writing. The total value locked on Cardano surged this year.
Blockchain data also shows that ADA has been seeing increased interest from institutional investors and whales on its network, with the volume of large transactions exceeding $100,000 recently rising significantly.
According to data shared by on-chain cryptocurrency analyst Ali Martinez, the volume of large ADA transactions has been steadily increasing, with a significant surge in the past few months. The surge shows growing engagement after a cryptocurrency market recovery and could shed light on their investment strategies.
Moreover, data shows that 80% of Cardano investors are in the red, 4% are at-the-money, or breaking even on their investments, and 16% are in-the-money, or sitting on unrealized gains.
Cardano’s supporters point out that the project has a strong development team and a solid roadmap for the future, which could make it a strong contender in the cryptocurrency space over the long term.
The cryptocurrency community expects Cardano to experience an upward movement during the month of March, at a time in which the cryptocurrency’s adoption keeps on growing.
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