Cardano Network Sees Over 5 Million NFTs Minted, Price Spikes By 12%

The Cardano network has now seen over 5 million NFTs minted with over 50 thousand distinct minting policies.

Cardano Network Sees Over 5 Million NFTs Minted, Price Spikes By 12%
Cardano Network Sees Over 5 Million NFTs Minted, Price Spikes By 12%

Over 5 Million NFTs Minted On Cardano Network

Over five million NFTs have been minted on the Cardano network. The quantity of native assets issued on the Cardano blockchain is currently 5,019,030, according to data, with 54,831 different minting policies.

Custom tokens can be created, interacted with, and deleted natively on the Cardano blockchain (or “assets”). Users may interact with these custom assets right out of the box, without having to use smart contracts, thanks to the term “native.”

Cardano Network To Have More Asset Minted

Cardano developer Charles Hoskinson anticipated that by 2020, there would be “hundreds of assets, thousands of dApps, tons of interesting projects, and lots of unique and utility.”

Hoskinson revisited the 2020 prediction while responding to a critic who said that the prognosis had failed to materialize by pointing out that millions of assets have been minted on Cardano.

Cardano has the second greatest 24-hour adjusted volume of transactions, according to Messari data. Adjusted transaction volume is still an effective way to isolate only the most crucial transactions.

With a 24-hour volume of $9.15 billion, Cardano beat rival cryptocurrencies like Bitcoin and Litecoin in adjusted transaction volumes. This phrase was recently posted by Cardano founder Charles Hoskinson in response to a critic who referred to Cardano as “Ghostchain.”

ADA Spikes By 12%

On May 27, the ADA price fell to $0.44 before rebounding. At the time of publication, ADA was trading at $0.516, up roughly 12%, indicating that it would be the third day in a row with positive price activity.

The new price increase reflects a more than 33 percent increase over its lowest price of roughly $0.39 earlier this month.

IOHK released the network’s most recent statistics over the weekend. Cardano is now being used in 986 projects, up from 943 earlier.

Cardano has recently seen the launch of 88 new projects, bringing the total number of NFT projects to 5,727. The overall number of Github connections for the week was 3,028.