Cardano network fundamentals are growing and attracting significant amounts to its DeFi system

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The Cardano network is currently experiencing fundamental growth, with the number of original assets on the network exceeding eight million, currently at 8,027,363, according to data. These assets were issued through 70,901 policies. Additionally, the number of NFTs on Cardano is 7,511,799, according to the same source.

Trading activities for NFTs on Cardano have also increased, with sales of existing NFTs on Cardano rising 34.92% in the last 24 hours to $536,047, according to Cryptoslam data. The total number of ADA wallets exceeded four million on March 21, according to Cardano Blockchain insights.

The number of projects working on Cardano has reached 1,213, with 118 projects launched, while the total number of transactions on the network has reached 63 million. The value of ADA locked in the DeFi system has reached a new record of $405.63 million, according to DeFiLlama. In dollar terms, the total value locked in the DeFi system reached $150.96 million (including staking), reflecting an 11.20% increase in the last 24 hours.

At the time of writing this article, the price of ADA has risen by 8.47% in the last 24 hours to $0.38. Last week, Cardano unveiled a new network update that includes dynamic P2P networking, where network participants can now test automated communication between contracts to ensure the success and smooth operation of the dynamic P2P function. Overall, the Cardano system is experiencing significant growth and attracting significant amounts to its DeFi system, reflecting the high confidence that this system enjoys among users and developers.

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