Cardano’s native token has recently seen a notable decline in its value, dropping by approximately 17% over the last month. However, the on-chain activity has defied expectations, with a 1,700% surge in its weekly transaction volumes since late January. Data suggests that trader interest in the crypto asset has remained unfazed by the depreciation in its price.Cardano has also surpassed several prominent projects in terms of developer activity, including Hedera, Chainlink, and Cosmos in August. This increased level of activity is indicative of a commitment to innovation and potential improvements in the network’s capabilities. On the NFT front, Cardano’s NFT floor price has skyrocketed, even briefly exceeding Ethereum.The network holds a total value locked (TVL) of around $150 million, representing a substantial increase of nearly 200% since January 2023. While the rising TVL does signal sustained interest in Cardano’s DeFi ecosystem, the decentralized exchange (DEX) volumes on the network declined over the past month.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	Chainlink, Santiment, Cosmos, Cardano, Hedera
Currencies	Ethereum, Cardano, Bitcoin, Hedera
Securities	None