Network Data Shows Cardano Record Growth in Various Aspects in May 2022 Despite Cryptocurrency Price

Cardano was extremely successful last month despite the collapse of the cryptocurrency market.

For most crypto investors and brokers, May 2022 is a month not to be quickly forgotten. Last month marked the beginning of the bear market of this cycle with the fall of the Earth ecosystem tokens, UST and LUNA.

While many cryptocurrencies are being hit hard by the ongoing crypto winter, an infographic provided by the Cardano Foundation, a non-profit organization dedicated to the growth and development of the network, suggests that Cardano has seen some growth in various ways, so it's time to bet on https://bitcoinbookies.net/cardano-betting-sites/.

Growth of Cardano in May

The infographic shows Cardano's performance across various dimensions, including portfolios holding the project's native ADA cryptocurrency, the percentage of ADA staked on various protocols, the number of funded offerings, and the total number of transactions, among others.

Despite the crypto winter last month, the number of wallets owned by ADA jumped to 3.36 million, representing a 1.84% increase.

This happens during the mass conversion of various cryptocurrencies to stablecoins, when investors dump their holdings in cryptocurrencies to avoid further losses due to a sharp drop in the prices of all digital currencies.

Similarly, Cardano's on-chain transactions have also increased significantly, growing by 7.74% to reach 42.5 million at the end of May 2022. It's worth noting that Cardano's on-chain transactions involve sending, receiving, staking, etc. of ADA.

In addition, the number of native assets on the Cardano network increased by 8.64% to 5.03 million. The number of native assets deployed on Cardano has increased significantly thanks to the efficient operation of the blockchain, which has been running continuously since its activation.

Another interesting fact in the infographic is the number of proposals that were funded during May. According to the data, a total of 947 proposals have been funded through the Catalytic Funds of the Cardano project.

Other aspects of Cardano collapsed

Some aspects of the network have not shown as much revenue as others. For example, the percentage of ADA staking across various protocols dropped slightly by 1.35%, while Cardano staking pools also fell by 0.75%.

Meanwhile, the cryptocurrency winter has had a big impact on the value of ADA. The cryptocurrency has fallen over 27% for all of May 2022. At the time of writing, ADA is trading at $0.55, down 2.4% over the past 24 hours.
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