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Top Crypto News Today: NFT Volumes See a Whopping 280% Spike On Cardano Network

Top Crypto News Today: NFT Volumes See a Whopping 280% Spike On Cardano Network

Opening up the crypto space in the morning comes with newer updates from one or the other crypto asset it seems right? And why not! Starting from the Merge on the Ethereum network, to Bitcoin’s Hash rate taking an ATL, the crypto ecosystem is always busy with one upgrade, new project or something other. Continuing the happenings, the newly surged sections of crypto; i.e. Metaverse or NFTs have also been making headlines for the new innovations! 

Did You Know? Dubai Police is now providing Metaverse Police service via an app.

Diving into the other most important topic within the crypto domain; Cardano. Soon after the Ethereum Merge, the Cardano (ADA) network also took a significant step and completed its highly anticipated Vasil Hard Fork. Following this significant event in September 2022, the Cardano network has seen a whopping 280% increase in its NFT volume within the last week. According to the U.Today report, the Cardano Network NFT volumes back on 10 October was barely touching 811,000. Fast forwarding to 17 October, when the Cardano (ADA) NFT volumes reached 3 million ADA, representing a solid 280% increase in its NFT volumes! With this increase in Cardano’s NFT volume, Cardano has now entered the top three NFT chains, moving past Immutable X and making itself stand at the fourth spot.

According to the OpenCNFT data, the number of NFT trades on the ADA chain increased by 67% in the last seven days to 48,384, while the number of NFTs sold also had a surge in number, by 65.27% to 45,668 to be exact. An all-time high volume of 3,089,313 was achieved on 17 October 2022. Going back to OpenCNFT data, on 20 October, the 24-hour NFT volume in ADA stood at 1,232,142.

Activities in the Last Epoch

According to a screenshot shared by Stocktwits NFT, The Ape Society and Claymates are taking the lead in NFT volumes. As stated on the U.Today news, according to Dapps On Cardano, the ADA network has seen an increase in user activity since its last epoch. An epoch, in Cardano’s vocabulary, lasts five days. As seen in the tweet, projects such as CNFT, SingularityNET, Cardano DEX MuesliSwap, Lending Pond, and SpaceBudz saw increases of 282%, 259%, 93%, 75%, and 75%, respectively, in user activity.

Source: U.Today

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