Cardano Wins Poll For Protocols With Best NFT Community

NFT Twitter page Stocktwits NFTs recently conducted a poll to determine which blockchain has the most active NFT community. There were four blockchains in the pool and Cardano had the highest vote, showing the surge in interest for Cardano NFTs.

There have been over 33 billion native assets minted by Cardano in the NFT sector. The overall quantity of native assets minted on the Cardano blockchain is now 33,652,677,754, with 1,216,064 delegations, according to statistics given by pool.pm.

IOHK provided details on network expansion in its most recent weekly progress report. The number of Cardano projects currently under construction has increased from 992 to 1,004. In the last few months, 89 Cardano projects have been established, bringing the total to 5,796 NFT projects.

Additionally, according to the predictions of Analytics Insight, the price of ADA will rise to $1.72 during the first half of 2023, and then it will climb to $2.11 in the second half of the same year. In light of that, it is very evident that Cardano NFT markets are set to gain a large amount from this price increase.

However, it seems that the waning crypto market has had a substantial influence on the NFT industry since daily trade volume has fallen off a cliff since the beginning of May in conjunction with the decline in crypto values.

NFT trading, on the other hand, increased as buyers sought bargains amid depressed prices on Monday. This occurred despite the fact that major cryptocurrencies such as Bitcoin and Ethereum have reached lows not seen since 2020.