.Cardano blockchain activity grew in both value locked and transactional metrics quarter-over-quarter (QoQ) amid technical improvements and a rise in developer interest, a MessariCrypto report found. By shauryamalwa
The report, commissioned by Cardano developer Input Output, compared second-quarter developments against first-quarter figures. It noted that while transaction activity grew, the number of active daily users decreased 4% – the fourth drop in address activity in the past five quarters.
“The ratio of transactions to active addresses has been growing steadily over the past five quarters, suggesting that the average user is more active now than they previously were,” the report said. “In Q2, the Transaction / Active Address ratio of 1.19 was up 6.1% QoQ and 13.2% YoY.” Blockchain load – a measure of how much data is contained in blocks over a certain period – rose to 50% from under 40% in the previous three months. It peaked at 81% in May.
DefiLlama data shows some $175 million worth of tokens are locked on Cardano as of Monday, the highest level for this year, but still 50% below a lifetime peak of $340 million hit in May 2022.An change to reduce epoch transitions and make the blockchain smoother for network users took effect in June. Epochs refer to the time periods on Cardano, with epoch lasting 432,000 slots and each slot being one second.
ADA tokens are staked during these epochs during which new blocks on the Cardano network are produced – potentially increasing demand for the tokens as block rewards become more lucrative, based on activity.
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