Cardano's development activity has surged, outpacing competitors like Hedera and Chainlink. This signals potential enhancements for the network's capabilities.
In terms of recent activity on the Cardano network, a notable spike was witnessed in daily interactions and transaction volumes. This spike indicated growing user engagement and interest in the protocol.Despite the overall positive trend, the decentralized exchange volumes on Cardano have shown a decline over the past month.
However, the total value locked within the DEX ecosystem has continued to grow, indicating ongoing interest in Cardano’s DeFi sector.While development and activity thrived, there’s been a noteworthy decrease in the fees generated on the protocol. Over the last month, fee earnings saw a 33% decline, according to Token Terminal.In the realm of staking, Cardano has been witnessing a steady increase in the number of ADA holders participating as stakers.