Cardano, the eleventh-largest cryptocurrency by market capitalization, is up nearly 5% in the past 24 hours as Bitcoin regained some ground to trade above $61,000 on Friday.
The cryptocurrency market fell after a US consumer price index report showed higher-than-expected inflation in September, appearing to end hopes of another 50 basis point Fed rate cut next month.
Bitcoin fell below $59,000 and Cardano fell to a low of $0.331 during Thursday’s trading session after three days of declines before recovering.
Cardano recovered from Thursday’s low of $0.331, rising 4.10% over the past 24 hours to $0.348. The price recovery is accompanied by a sharp increase in large transaction volume, which measures the total amount of transactions made by whales in a given day. According to IntoTheBlock, over the last 24 hours this amounted to $5.8 billion or 17.23 billion ADA in cryptocurrency equivalent.
The Cardano ecosystem continues to grow
This week, Cardano developer Input Output Global (IOG) shared key growth metrics for last September.
As of September 27, Input Output reported 1,376 Cardano-based projects. The number of delegated wallets increased by 1,000. The number of Plutus scripts increased by 13,611 to 88,340. The number of token policies increased by 13,064, and the number of native tokens issued increased by 80,000.
The total number of transactions increased by 1.34 million over the past month. Node v.9.2.0 was released in September. It included several improvements and bug fixes. Node v.9.2.1 has also been published as a minor update to improve certificate verification performance.
Lace v.1.16 was released last month, which includes improved wallet functionality, faster multi-delegation address management, and improved message signing capabilities. The Hydra team released version 0.19.0, which updated the ledger to the Conway era while remaining compatible with Babbage-era transactions.
