{"id":4060,"date":"2023-04-27T17:34:51","date_gmt":"2023-04-27T16:34:51","guid":{"rendered":"https:\/\/dev.adavault.com\/?p=4060"},"modified":"2023-04-27T17:58:42","modified_gmt":"2023-04-27T16:58:42","slug":"state-of-cardano-q1-2023","status":"publish","type":"post","link":"https:\/\/dev.adavault.com\/index.php\/2023\/04\/27\/state-of-cardano-q1-2023\/","title":{"rendered":"State of Cardano Q1 2023"},"content":{"rendered":"\n<p>Messari has just released <a href=\"https:\/\/messari.io\/report\/state-of-cardano-q1-2023\">a report<\/a> covering the Cardano Ecosystem with some very positive statistics:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>ADA\u2019s market cap rose by 54% QoQ from $8.6 billion to $13.2 billion.&nbsp;<\/strong>This increase moved Cardano from the 9th to the 7th largest network by market cap.<\/li>\n\n\n\n<li><strong>TVL increased 172% QoQ from $50.8 million to $138.3 million.<\/strong>&nbsp;This increase is driven by both established protocols, such as MinSwap, and newer protocols, such as Liqwid Finance.<\/li>\n\n\n\n<li><strong>Indigo\u2019s IUSD and Djed\u2019s DJED stablecoins drove total stablecoin value up 261% QoQ.<\/strong>&nbsp;These stablecoins and their adoption were also a catalyst for the overall TVL increase.<\/li>\n\n\n\n<li><strong>The first Hydra Head was opened on mainnet.&nbsp;<\/strong>The Layer-2 state channel scaling solution and first solution of the Hydra series was first used on mainnet in March, although in a limited fashion.<\/li>\n\n\n\n<li><strong>Milkomeda C1, IOG\u2019s EVM proof-of-concept sidechain, Wanchain, and Midnight continue to work towards increased interoperability and new use cases in the greater Cardano ecosystem.<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Starting to see some real DeFi growth now, across the exchanges running on Cardano, with a good blend of stable coins, tokens, and even meme coins! We&#8217;ve got some favourites in the mix such as <a href=\"https:\/\/djed.xyz\">Djed\/Shen<\/a> and <a href=\"https:\/\/worldmobile.io\">WMT<\/a> where we see significant long term potential. But it&#8217;s fair to say there are many worth a look, and <a href=\"https:\/\/www.taptools.io\">Taptools.io <\/a>is a great place to start researching.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Messari has just released a report covering the Cardano Ecosystem with some very positive statistics: Starting to see some real DeFi growth now, across the exchanges running on Cardano, with a good blend of stable coins, tokens, and even meme coins! We&#8217;ve got some favourites in the mix such as Djed\/Shen and WMT where we&hellip;<\/p>\n","protected":false},"author":1,"featured_media":4062,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[8],"tags":[27,302,399],"class_list":["post-4060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano-updates","tag-cardano","tag-messari","tag-taptools"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>State of Cardano Q1 2023 - ADAvault<\/title>\n<meta name=\"description\" content=\"The ADAvault blog\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.adavault.com\/index.php\/2023\/04\/27\/state-of-cardano-q1-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State of Cardano Q1 2023 - ADAvault\" \/>\n<meta property=\"og:description\" content=\"The ADAvault blog\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev.adavault.com\/index.php\/2023\/04\/27\/state-of-cardano-q1-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"ADAvault\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-27T16:34:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-27T16:58:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dev.adavault.com\/wp-content\/uploads\/2023\/04\/Cardano-stats-messari-Q1-23.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1556\" \/>\n\t<meta property=\"og:image:height\" content=\"954\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"webmaster\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@adavaultops\" \/>\n<meta name=\"twitter:site\" content=\"@adavaultops\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"webmaster\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/dev.adavault.com\/index.php\/2023\/04\/27\/state-of-cardano-q1-2023\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/dev.adavault.com\/index.php\/2023\/04\/27\/state-of-cardano-q1-2023\/\"},\"author\":{\"name\":\"webmaster\",\"@id\":\"https:\/\/dev.adavault.com\/#\/schema\/person\/49b7a35bfadc7aa22c3643a455a1f179\"},\"headline\":\"State of Cardano Q1 2023\",\"datePublished\":\"2023-04-27T16:34:51+00:00\",\"dateModified\":\"2023-04-27T16:58:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/dev.adavault.com\/index.php\/2023\/04\/27\/state-of-cardano-q1-2023\/\"},\"wordCount\":229,\"publisher\":{\"@id\":\"https:\/\/dev.adavault.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/dev.adavault.com\/index.php\/2023\/04\/27\/state-of-cardano-q1-2023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/dev.adavault.com\/wp-content\/uploads\/2023\/04\/Cardano-stats-messari-Q1-23.png\",\"keywords\":[\"Cardano\",\"Messari\",\"Taptools\"],\"articleSection\":[\"Cardano Updates\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dev.adavault.com\/index.php\/2023\/04\/27\/state-of-cardano-q1-2023\/\",\"url\":\"https:\/\/dev.adavault.com\/index.php\/2023\/04\/27\/state-of-cardano-q1-2023\/\",\"name\":\"State of Cardano Q1 2023 - 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