According to U.Today, the Cardano Foundation has released statistics for the Cardano network for July, showing an increase in on-chain activity. The foundation emphasized the steady growth, highlighting Cardano's dynamic ecosystem and the ongoing engagement of its community. The data revealed that transactions reached 94.6 million, marking a 1.62% growth. Of these transactions, 37% were smart contracts, 38% were simple transactions, and 25% were metadata without smart contracts. Plutus scripts saw a 1.88% increase to 6,659, native tokens rose by 1% to 10.2 million, and policies increased by 7.6% to 150,477. Cardano wallets grew by 0.71% to 4.84 million, while delegated wallets saw a slight rise of 0.02% to 1.35 million. Despite these positive metrics, the price of ADA closed July with a 1.02% decline, reaching highs of $0.456 during the month. The mixed price action in July was influenced by market reactions to concerns over the defunct Mt. Gox crypto exchange and interest rate cuts. August began on a bearish note for the crypto market, with various assets experiencing declines amid a global market sell-off driven by recession fears. Bitcoin dropped nearly 20% during Monday's trading session, while ADA fell by as much as 18% before recovering some losses. At the time of writing, ADA was up 3.43% in the last hour, indicating potential dip-buying, but it remained down 9.32% over the previous 24 hours to $0.316 and 23.13% for the week. ADA has already decreased by 18.11% in August, a traditionally slow month for risk assets.