Cardano (ADA) 'Power Users' Grew Significantly in Q2, Report Finds

🔵 In Q2 2024, Cardano's ecosystem saw significant developments and challenges, according to Messari's latest report. Despite a decline in average daily transactions and active addresses, the network's "power users" increased notably, indicating a rise in engagement and utilization among core participants.

📉 Average daily transactions fell by 27.5%, settling at 51,400, while daily active addresses dropped by 33.2% to 31,800. However, the average transaction fee in USD decreased by 23.1% to $0.16, highlighting improved cost-efficiency for users.

💡 On a positive note, Cardano's ecosystem expanded with the introduction of USDM and MyUSD stablecoins, showing staggering market capitalization growth of 2,557.6% and 694.8%, respectively. Protocols like SundaeSwap also thrived, with a 16.3% increase in Total Value Locked (TVL) to $12.7 million.

🔄 Looking ahead, Cardano's upcoming Chang hard fork aims to enhance governance through on-chain voting, marking a critical step towards self-sustainability outlined in Cardano's roadmap phase, Voltaire.

Stay tuned for more updates as Cardano continues to evolve and adapt in the ever-changing crypto landscape! 🌐💬 #CardanoPredictions #CryptoUpdates #blockchainnews