Odaily Planet Daily News According to the weekly report released by Input Output Global, the total number of Cardano network transactions has exceeded 71 million, reaching 71.2 million. The number of native tokens on the Cardano chain is also growing, currently reaching 8.55 million. These tokens were minted in 77,035 token strategies. 135 projects have been launched on Cardano, while 1,264 projects are in various stages of development on its chain. On-chain analytics firm IntoTheBlock noted in its May Cardano network analysis report that Cardano’s transaction volume has remained fairly stable amid bear market conditions and has increased from year-to-year lows. In addition, the transaction volume has also increased significantly, indicating that activity is increasing. The main catalyst appears to be the Hydra upgrade in May. Hydra is a layer-2 scaling solution designed to increase the throughput and scalability of the Cardano chain by processing transactions on sidechains. In addition, DefiLlama data shows that the total amount of ADA locked by DeFi applications on the Cardano chain has increased significantly and reached a record high of 720.27 million ADA. IOG’s weekly report also mentioned other developments on the Cardano chain. The Lace team released v.1.3, introducing support for regular and personalized "ADA Handles", which users can test in the preview test environment. In addition, Mithril will soon launch a Beta version on the mainnet. (U.Today)