Related Reading | Cardano Soars 13% On Rumors Of Burn Mechanism Rollout, Charles Hoskinson Reacts
At the time of writing, Cardano (ADA) trades at $1.20 with a 30% rally over this period. This makes ADA the best-performing cryptocurrency by market cap.The Cardano ecosystem is growing by leaps and bounds, with new players entering the ecosystem every day. Let’s start this week with a recap of the latest news & announcements from projects Building On Cardano and contributing to its growth.Among these projects is Milkomeda. Created as a scalability solution for Cardano, this project is set to integrate the network with Ethereum Virtual Machines (EVM) capabilities. The project was on March 28 on Cardano. In the future, this network will be able to integrate with other blockchains, such as Avalanche, and Algorand.
📢Announcement for Indigo x Cornucopias! 🌏We've officially partnered with to bring Indigo 3D Assets to the Metaverse. 🔹It is exciting to work alongside leading projects to offer a unique user experience for the future! 🔮Follow — Indigo | Synthetic Assets on Cardano (@Indigo_protocol)
Cardano Growth Beyond Expectations, Institutions Want More ADA
The inventor of Cardano, Charles Hoskinson, celebrated the growth of the project. In 2021, Hoskinson predicted a boom in the number of projects building on this network, and the number of assets launched on Cardano. Via Twitter, he that there are “millions” of both surpassing his expectations. In the coming months, this number seems poised to climb as the network prepares for another Hard Fork Combinator (HFC) event. Dubbed “Vasil”, Hoskinson believes it will trigger another surge in network activity, and potential total value locked (TVL).What most also don't understand is that many Cardano DApps are waiting for the Vasil hardfork in June to launch to benefit from pipelining. So it seems we ain't seen nothing yet on TVL — Charles Hoskinson (@IOHK_Charles)
Related Reading | Despite Rocky Beginnings with Hoskinson, Cardano Is Shaping Up to Have an Interesting Year
Thus, ADA’s price could have fuel for the mid to long term to sustain its rally. Data from IntoTheBlock suggest institutional investors might have caught on to this future trend as the number of addresses moving large sum in ADA trend upwards.is experiencing increasing institutional demand The volume of on-chain transactions >$100k has increased by 50x just in 2022 Yesterday, a total of 69.09b were moved in these large transactions, representing 99% of the total on-chain volume — IntoTheBlock (@intotheblock)