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

- Advertisement -
  • 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.

- Advertisement -

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.

- Advertisement -

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.

- Advertisement -
Kenny Williams is a crypto fanatic and writer with a deep passion for blockchain technology. He holds a degree in computer science from University of Texas at Austin and has been actively involved in the crypto world for over 5 years. Kenny spends most of his time researching and analyzing the latest trends and developments in the world of cryptocurrency. His expertise and insights have made him a respected voice in the industry, and his writing has been published in leading crypto publications. When he's not writing or researching, Kenny enjoys tinkering with technology and building his own blockchain projects. He's also an avid traveler and loves to explore new cultures and cuisines around the world.
- Advertisment -spot_img