Cardano captures trillions of the NFT market and drives blockchain adoption for billions of people
- One of the notable Cardano events of 2022 was cNFTcon, in Las Vegas, which brought together artists and entrepreneurs who assumed more similar events going forward.
- Cardano (ADA) is ranked ninth by market cap and is trading around $0.265451, up 4.5 percent today.
The Cardano network is on the cusp of global mainstream adoption through strong community engagement. With massive technical support from the Cardano Foundation, IOHK and Emurgo, the underlying blockchain network promises to solve real-world problems at scale. Also, the Cardano ecosystem has attracted popular NFT artists and developers who are well motivated to keep building.
In 2022, the Cardano community held several meetings to improve knowledge sharing in different parts of the world. After engaging community members at the ground level, the Cardano network is gearing up for more such events in 2022. David Taylor, Cardano’s global marketing director, noted:
From CardanoRio 2022 to Blockchain Sydney, the Foundation provided various types of support to community events. As a fundamental part of Cardano Summit 2022, we are also sponsoring over 50 community-led events worldwide,
One of the notable Cardano events of 2022 was cNFTcon, in Las Vegas, which brought together artists and entrepreneurs who assumed more similar events going forward.
Part 3 of our series “Driving Blockchain Technology: Cardano Foundation’s Activities”
Later this week we will publish part 4 of our series…but before we do, read through some of our activities from 2022. 👇
➡️ https://t.co/9Y8ceOr4Wx#CardanoFoundation #Cardano pic.twitter.com/YFWF99ldCc
— Cardano Foundation (@Cardano_CF) 3 January 2023
As 2022 drew to a close, the Cardano network also held the W3BX event in Las Vegas. In particular, W3BX brought together Web3 companies among other interested parties to discuss the future of a decentralized financial ecosystem, especially on Cardano. Similar events are planned to continue in 2023 to enable Cardano globalization and the crypto market to become mainstream.
“As the Foundation prepared for W3BX, we left cNFTcon already looking forward to the 2023 edition, hoping for eventful updates and to see more exhibitors, more projects and an ever-blooming Cardano community,” Taylor added.
Cardano (ADA) Market Outlook
As a top ten crypto project, Cardano (ADA) has received significant spotlight from both institutional investors and retail traders. The proof-of-stake blockchain network has recorded tremendous progress since its inception back in 2017. Furthermore, the Cardano network is an open source project that allows developers to build decentralized financial applications with first-class security and scalability.
According to market data provided by Defillama, the Cardano network has a total value locked (TVL) of approximately $52.53 million. Top projects with high onchain activity on the Cardano ecosystem include Indigo, Minswap, WingRiders, SundaeSwap and MuesliSwap, among others.
Nevertheless, the majority of Cardano’s daily traded volume comes from centralized exchanges. According to market data provided by Binance-backed Coinmarketcap, Cardano’s 24-hour volume on DEXs was around $282,852, while that from DEXs is $249,834,504.
With a total supply of 35 billion ADA coins, the Cardano network boasts a market capitalization of approximately $9,121,522,200. As such, market strategists expect the ADA to help unlock trillions of dollars in the next decade as digital assets become mainstream.
