Cardano wins protocol poll with top NFT community

    • Cardano is elected as the blockchain with the best NFT community.
    • There are over 33 billion native assets created by the Cardano blockchain.
    • NFTs on the Cardano blockchain will benefit from the expected rise in the ADA price.

The NFT Stocktwits NFTs Twitter page recently conducted a poll to determine which blockchain has the most active NFT community. There were four blockchains in the pool and Cardano got the highest vote, showing the renewed interest in Cardano’s NFTs.

There have been over 33 billion native assets created by Cardano in the NFT sector. The overall amount of minted native assets on the Cardano blockchain is now 33,652,677,754, with 1,216,064 delegations, according to statistics provided by pool.pm.

IOHK provided details on the network expansion in its latest weekly progress report. The number of Cardano projects currently under construction has increased from 992 to 1,004. Over the past few months, 89 Cardano projects have been set up, bringing the total to 5,796 NFT projects.

Moreover, according to Analytics Insight forecast, the price of ADA will increase to $1.72 in the first half of 2023 and then it will climb to $2.11 in the second half of the same year. In light of this, it is very evident that the Cardano NFT markets stand to gain a significant profit from this price increase.

However, it seems that the decline of the crypto market has had a considerable influence on the NFT industry as the daily trading volume has fallen off a cliff since the beginning of May in conjunction with the decline in the values ​​of the cryptography.

NFT trading, on the other hand, rose as buyers searched for bargains amid depressed prices on Monday. This happened despite major cryptocurrencies such as Bitcoin and Ethereum hitting lows not seen since 2020.



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