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Cardano about to explode? Over 100 new smart contracts since Vasil hard fork

 


In the two weeks since the Vasil hard fork, the Cardano network has grown by over 100 smart contracts – the total number of active addresses has also continued to grow. The ADA price, on the other hand, fell by 6%. A one-time purchase opportunity?


The Vasil upgrade should help improve the scalability and performance of smart contracts on Cardano . The success speaks for itself: since the launch of the hard fork, the network has grown by 100 new smart contracts.


According to available data, the network reached the milestone of 3,000 smart contracts in August. With the launch of the Vasil hard fork on September 22nd, that number had increased to 3,292 and now, two weeks later, it's already over 3,400 .


Cardano staking declining

However, the hard fork did not appear to have any significant impact on staking on the network. Since the upgrade, the Total Value Locked (TVL) has not increased – quite the opposite: Cardano’s TVL has only been around $75 million since October 9th .


After the hard fork, the total number of staked ADA increased briefly, even reaching $148 million on October 3rd. However, this is still well below the peak of $326 million reached on March 24, 2022.


Transactions briefly declining

As Cardano Blockchain Insights showed, transaction volume on the network has been quite volatile since the hard fork . According to the data, the number of transactions briefly fell to 12,000 on September 23, but most recently rose again to over 60,000.


Since a transaction on Cardano can contain many payments, a look at the daily payments provides more information. While daily payments basically stayed the same, monthly payments per day have seen an increase since the Vasil hard fork.


The number of active addresses per day has also increased since the upgrade. However, after peaking at 78,849 on Oct. 4, the number had fallen back to 70,752 by the time the article was published.


ADA price has fallen from $0.473 to currently around $0.4236 since the Vasil upgrade on September 23. This corresponds to a loss in value of 6% .


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