Recent statistics from IOHK indicate that 4.7 million native tokens have been issued on Cardano
Cardano NFT Sales hit $27 million in April, as one Twitter user shared. According to opencnft, which shares the latest Cardano NFT market data, 182,411 assets have been sold in the past 30 days, with the chilledkongs collection holding an 11.58% share by volume.
Recent statistics from IOHK indicate that 4.7 million native tokens have been issued on Cardano. Also, 937 projects are being built on Cardano while the total number of NFT projects is increasing to 5,549. The rise in the number of minted pieces of non-fungible art and projects is linked to the Cardano network’s growth.
In April, the NFT Clay Nation project launched its official collaboration with Snoop Dogg and Champ Medici, bringing iconic clay animations, land locations, and unlockable music content to Cardano.
Cardano is a proof-of-stake blockchain that uses network validators to process transactions and maintain the network. It was founded in 2015 and launched in 2017 as an alternative to Ethereum. With a market capitalization of $18.22 billion at the time of writing, it is the eighth largest cryptocurrency.
A bear market in progress?
Cardano fell to a low of $0.39 last week as the crypto market saw a selloff. Cardano recovered, hitting a high of $0.613 on May 16. Cardano is currently consolidating while attempting a rebound. Cardano was currently trading at $0.535, up 4.28% in the past 24 hours, according to data from CoinMarketCap. The crypto asset remains down 5.79% since last week.
Cardano founder Charles Hoskinson recently stated that cryptocurrencies might have entered a bear market when asked about the underperformance of the ADA coin. The Cardano founder admitted that no announcement would have an impact. As a result, the ADA price might continue to struggle despite the protocol’s expanding technical capabilities and growing community.
ADA has underperformed this year after making big gains in 2021 and is now down 82.62% from its all-time high reached in early September before the highly anticipated launch of the smart contract.
