by Aishwarya shashikumar
According to a Monday release, Adaswap, the ecosystem developer supporting one of the first decentralized exchanges on the Cardano blockchain, has launched on the mainnet. According to rumors, the platform’s testnet version was introduced in June. One of the first applications built on top of the Milkomedia Network, a cutting-edge protocol that gives blockchains like Cardano EVM capabilities, was AdaSwap.
AdaSwap, a decentralized exchange powered by Cardano, has raised $2.6 million from backers including Pluto Digital, GBV Capital, iAngels, Finova Capital, and Banter Capital. Gal Gadot, an Israeli actress who rose to fame internationally with “Wonder Woman” in 2018, is one of the angel investors who contributed funds to the endeavor. She said,
“This is an exciting investment opportunity for us in the crypto space.”
Cardano Races Ahead Of ETH And BTC
Over the previous day, the prices of crypto assets have once again fallen. The total market value of all assets was $820 billion on Monday after experiencing a 3% drop in 24 hours. Top assets including Bitcoin, Ethereum, and Cardano experienced 2%–4% declines during that time.
Despite the downturn, the asset’s users have been utilizing it more frequently. It was the most active blockchain at the time of publication, ahead of Bitcoin, Ethereum, and other well-known networks. As shown in the graph below, nearly $6.4 billion in volume was settled on Cardano on the previous day. Contrarily, the volume of transactions for Bitcoin and Ethereum was $4.75 billion and $1.84 billion, respectively.
Ardana, a DeFi project built on Cardano, stopped development last week due to financial and timetable concerns. After the aforementioned occurrence, the environment appeared to be disturbed. However, it doesn’t appear to be the case.
Cardano placed third in terms of weekly development activity, according to GitHub activity statistics.
In reality, the Cardano Improvement Proposal for entering the Voltaire phase was released last week, according to a recent update report. There were also ongoing “fundamental technology enhancements.” The Lace development was “progressing” concurrently.
Therefore, Lace is a light wallet that is currently being developed with the goal of enabling users to manage, control, and store their cryptos all in one location.
Over 1,146 projects are now being developed on the blockchain. Over 106 projects have already been started on Cardano, and over 3,759 Plutus scripts have been deployed as of right now.
At the conclusion of the previous week, the network had also managed the minting of more than 6.9 million native tokens under 65,539 different minting rules.
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