Messari’s State of Cardano Q4 2022 report shows the network witnessed a significant increase in daily transactions, decentralized application (dApp) transactions, and NFT trading volume in Q4 2022. The price of ADA has been up by nearly 8% in the last 24 hours.
Cardano, the distributed ledger technology (DLT) network that powers ADA, the world’s 7th-largest cryptocurrency, had a sterling performance in Q4 2022, despite the numerous dark events and high-profile bankruptcies that plagued the web3 space during that quarter.
According to Messari, a provider of crypto market intelligence products and services, Cardano had a solid Q4 2022 due to several factors, including a dedicated community of users and developers, a boost in NFT sales, and the emergence of new projects within the ecosystem.
The crypto industry experienced several highs and lows in 2022; The early stages of the year were significantly more positive than the latter, especially in the fourth quarter. In the bearish markets in Q4, the daily transactions on the Cardano network saw an impressive 12.9% increase despite a 24.3% fall in daily active users.
Source: https://crypto.news/cardano-gains-8-amid-increased-dapp-and-nft-activity-in-q4/