HomeNewsCardano Soars with Aada V.2 Pool Manager NFT and Surging Transaction Volume:...

Cardano Soars with Aada V.2 Pool Manager NFT and Surging Transaction Volume: The Future Looks Bright

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  • Introducing Pool Manager NFT with Aada V.2 for delegating locked ADA and registering new stake pool.
  • Cardano’s transaction volume surges, with over 65.4 million transactions processed in the past week.

Aada Finance Announces Pool Manager NFT

Exciting news has been shared by Aada Finance for Cardano enthusiasts. With the release of Aada V.2, a Pool Manager Non-Fungible Token (NFT) will be introduced. The holder of this NFT will have the ability to:

  • Delegate locked ADA (supply or collateral) to any pool
  • Register a new stake pool

This innovative feature brings a new financial instrument to users, who can transfer, sell, or stake the NFT on DeFi platforms.

Cardano’s Transaction Volume and Network Growth

Cardano’s transaction volume has seen a significant surge, reaching new highs not previously recorded. This uptick in activity has occurred alongside an increase in the total number of active wallets on the Cardano network.

Input Output Global, the organization responsible for Cardano’s growth, reports that the network processed 65.4 million transactions in the past seven days. The network has also seen a massive inflow of new wallets, bringing the total number of wallets to over 4 million as of March 2023.

Despite the recent volatility of ADA, transaction volumes and network growth remain promising. The current trend has been linked to increased whale activity on the network, with the accumulation of coins in whale addresses pointing to a growth in confidence among larger players. Such activity often leads to bull runs, and Cardano’s futures market is also showing bullish signs with increased transactions recorded on the network.

ADA Price Movement and the Future of Cardano’s Development

Although ADA’s price plunged below the $0.4 mark in May, trading at $0.38, its future development looks strong. The network is rolling out new upgrades in preparation for the much-anticipated Voltaire era, the final phase of Cardano’s evolution. This phase aims to create a completely decentralized decision-making platform through developments such as the Conway Ledger and CIP-1694.

CIP-1694 improves the network’s governance, making it more decentralized and allowing any user to submit governance actions. These actions will go through three groups: The Constitutional Committee, Delegation of Representatives, and Stake Pool Operators. Additionally, the Ledger Team has introduced new technologies, including Plutus v3, with Haskell Code and API receiving new updates as well.

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Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628