Cardano Updates | LEND7 Launches on Cardano | June Week 1

Every week, there are some interesting updates in the Cardano ecosystem. Accordingly, Altcoin Buzz covers some of the updates from the first week in June to keep readers informed.

Last week, there was a report about Cardano blockchain performance in May. Additionally, we also take a look at the top gainers in the Cardano ecosystem.

1 – Performance of the Cardano Ecosystem in May

Last week, a report from Cardano Blockchain Insights revealed the performance of the ecosystem for the month of May. The report notes:

  • There was a total of 42.5 million completed transactions at the end of May. This is also equivalent to a 7.74% increase from April.
  • 3.36 million wallets (1.84% increase) were recorded. As well as, 1.16 million delegated wallets (0.16% increase) at the close of the month.
  • At the end of May, there were 2,761 Plutus Scripts, which shows a 5.47% increase.
  • There was 71.7% of staked ADA, which represents a slight decline of 1.35%.
  • Policies on the blockchain also increased to 54,996, which shows a 3.26% increase.

2 – Top Gaining Projects on Cardano

Secondly, a report from crypto data platform CoinGecko revealed the top gaining projects (price performance) in the Cardano ecosystem. Notably, the report focuses on a 24-hour time frame on June 8.

  • Matrix Labs ($MATRIX), a multi-chain DEX aggregator, tops the price-performance chart. It also amassed a 10% rate of increase in price performance.
  • ADAPad ($ADAPAD), a deflationary launchpad for Cardano’s upcoming IDO’s channel, has the second-most gains. It also recorded a 9.5% rate of increase in price performance.
  • Cardano ($ADA), Cardano’s native token, is in third place. It has an 8.5% rate of increase in price performance.
  • Orion Protocol ($ORN), a decentralized gateway to accessing major CEX, DEX, and swap pools, is in fourth place. It also has an 8.5% rate of increase in price performance.
  • GeroWallet ($GERO), a crypto wallet extension for accessing Cardano-powered dApps, completes the top five. It also has a 6.4% rate of increase in price performance.

3 – LEND7 Launches on Cardano

LEND7, a Cardano-supported real estate assets platform, commenced a private sale on June 7, 2022.

It’s also important to note that LEND7 is a real estate tokenization system. Therefore, it allows NFT token holders to purchase and retain ownership rights that traditional real estate ownership provides. Besides, the platform has a seven-year project cycle that makes it possible for real estate owners to be able to repurchase their property after seven years.

Notably, LEND7 has plans to use its profits for charitable initiatives such as medical research and cancer treatment centers. As well as, helping people with special needs.

$ADA Price Analysis

As of the time of publication, Cardano’s price was $0.648717 with a 24-hour trading volume of $1,322,278,889. ADA price rose by 1.8% over the last 24 hours. Besides, it has a circulating supply of 33.8 billion ADA coins and a total supply of 45 billion.

We hope you’ve enjoyed the latest updates.

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