Cardano saw a rise in on-chain volumes of up to 369% year-to-date against the backdrop of other blockchains

Cardano founder Charles Hoskinson recently shared a tweet that includes a CoinMetrics chart depicting the daily on-chain transfer volumes of various blockchains, including Cardano.

Cardano records a 369% year-to-date increase in daily on-chain transfer volumes

The data indicate that Cardano has seen an increase in the on-chain volume of up to 369% to date compared to the context of other blockchains, including Bitcoin, Ethereum, Dogecoin, and Algorand, which fell 15%, 49%, 79%, and 82%, respectively.

Cardano’s founder seemed pleased with the report, but mocked critics by saying the volume increase was due to “spookyalpha”. “This is thanks to our new ghost generator that has dramatically increased ghost transactions…We call it SpookyAlpha”, he stated.

While flaunting the increase in transactions on the Cardano network, Hoskinson joked, “Cardano uses Ghost Transaction: it is super effective.” Cardano has faced considerable criticism in the past, with one of the most popular comparisons being “ghost chains”.

According to IOHK’s most recent weekly development update, preparations for the Vasil Hard Fork are in their final stages, with the team’s attention now turning to tracking the weekly milestones that will guide the next steps.

As stated in the report, the next major milestone is the introduction of a new node for the Vasil upgrade, as well as the first release of the new CLI, which will contain the new capabilities of Plutus. IOHK says the plan next week is to create a new test network for Vasil developers and work closely with an expanded team of developers and ecosystem partners on the final test. to ensure ecosystem partners (including developers and third-party component providers) have the time they need before hard forking the main Cardano testnet.

IOHK also provides a graph with network growth information. Currently, 992 projects are being built on Cardano, up from 986 projects previously. A total of 89 projects were recently launched on Cardano, while the number of NFT projects has grown to 5,796. For the week, Github connections totaled 2,769, while ADA stood at 4.9 million.

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