With the crypto industry marking some positive developments in recent days, the Cardano (ADA) community has had several reasons to celebrate amid some positive network developments. One such development involves the much-anticipated Voltaire era, which is reportedly progressing well.
The Voltaire era, which is the final phase of the network’s five-era roadmap, has reportedly been in the works for some time now. IOG, Cardano’s host company, began working on Voltaire right after the finalization of the Byron and Shelley eras.
Reports show that the arrival of the Voltaire era will help make the network more self-sustaining through a “volting and treasury system.” Ahead of this functionality's implementation, the network has launched its “Catalyst” program, a decentralized governance project.
Finally, the Voltaire era will allow network participants the ability to influence future developments on the network and give them voting rights. As such, users can make suggestions on software updates and other developmental endeavors on the network.
Cardano On-Chain Metrics on the Rise
In other news, Cardano recently recorded a spike in total new wallet count, according to data from Cardano Blockchain Insights.
This metric, which has been on a steep decline since November, recorded a sharp 58.7% spike in new wallet count. As of December 13, the total number of new wallets recorded on the blockchain came in at a staggering 5,442 up by a notable 190% from the 1,872 recorded on December 11. The latest addition of 5,442 wallets now brings the total network wallet count to 3,783,580.
That said, of the new 5,442 wallets recorded on December 13, only 396 have delegated ADA to staking pools.
While most other metrics did not rise with the recent new wallet spike, including the price of ADA, transactions on the Cardano network have also recorded a significant increase. Data from Cardano Blockchain Insights shows that as of December 13, total transactions on the network surged to 93,763 from only 60,915 on December 11.
Cardano Marks Its First SPO Liquidity Bond Launch
New reports show that Cardano has seen its first-ever SPO Liquidity Bond launch, with the program securing full funding in less than 25 minutes after launch.
This launch is one for the record books, considering Cardano had previously been described as a graveyard for DeFi.
Cardano Price Set to Start 2023 on a Bearish Footing
After recording a dip to the $0.300 critical support line, ADA has failed to mark a rebound or an attempt at one as generally anticipated at this level. Instead, the cryptocurrency has fallen into a sideways pattern, leaving it gliding above the mentioned support.
As pointed out earlier, even the slew of good news recorded by the Cardano community has failed to make any mark on the price of the crypto asset.
With only a few weeks left in December, ADA appears set to close the year below the $0.350 level and begin 2023 on a bearish footing.
ADA Statistics Data
ADA Current Price: $0.312
ADA Market Cap: $10.7B
ADA Circulating Supply: 34.4B
ADA Total Supply: 35.2B
ADA Market Ranking: #9
This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.