Messari, a top crypto market intelligence entity, has recently outed its Q2 2023 report dedicated to Cardano (ADA), exposing the current position of the ranked eighth cryptocurrency by market cap and its attendant operations. Entitled “State of Cardano Q2 2023”, it accounts a measured increase in DApp transactions and Total Value Locked (TVL) for wider growth and adoption of Cardano’s network for DApp operations, while tempering this boon with declines in ADA prices, systemic activity, and staking metrics. Their research identified key points including the sustenance ofMinswap, a leader in Cardano’s decentralized finance scales, sealing second quarter with a commanding 32.2% market share capitalized by a $48.8 million Total Value Locked. This study indicates both progress and shortcomings of the network as a whole, helping to track Cardano’s movement and outline upgrades.
