Network activity on Cardano trickled downwards in Q2, while transactions count and protocol revenue surged.
However, other key ecosystem growth metrics rallied, including the number of daily on-chain transactions, the Total Value Locked in Cardano DeFi protocols, and the chain’s revenue.Despite the growth in the number of decentralized finance protocols that launched on Cardano between 1 April and 30 June, the Proof-of-Stake network experienced a decline in the count of daily active addresses and the number of new addresses created daily.
However, in spite of all this, the number of transactions completed daily increased. As confirmed in the report: Although a network’s transaction count and its active addresses count are typically correlated and often trend in the same direction, Messari found that for Cardano, they “have deviated slightly in recent quarters.” While many may naturally think this concerning, Messari added:
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