Skip to content

Cardano adds over 70 smart contracts a week as more developers onboard the blockchain

After a major upgrade in September 2021, the Cardano (ADA) blockchain ecosystem has continued its tremendous growth – in terms of new features and updates, as well as buyer interest, but especially in the number of smart contracts added to the decentralized network.

Indeed, according to data acquired by Finbold, Plutus (a Cardano-based smart contracts platform) has recorded dramatic growth between April 8 and May 8. In this period the largest Proof-of-Stake (PoS) blockchain added 283 new smart contracts, going from 2,400 on April 8 to 2,683 on May 8.

In other words, this means that Cardano had been adding an average of more than 70 new smart contracts every week between the two dates, as the data from Cardano Blockchain Insights shows.

Plutus scripts (smart contracts) on the Cardano network. Source: Cardano Blockchain Insights

Specifically, the graph represents real smart contracts based on the Plutus platform, running on the Cardano network. They first went live on the network after the deployment of the Alonzo upgrade in September 2021, as part of a hardfork event.

ADA milestones keep on stacking

The recent development comes as Cardano is preparing for its next hardfork event – the Vasil hardfork scheduled for June 2022. Its aim is to grow the protocol and significantly increase its transaction throughput and with it, volume and liquidity.

In April, the network reached a number of key milestones, including adding 400 new projects building on ADA and close to 100,000 wallets in one month, after increasing the total number of ADA wallet holders to 3 million in February, as Finbold reported.

Cardano price analysis

Meanwhile, Cardano has been trading bearishly in recent days, along with the rest of the cryptocurrency market. Namely, its price at press time was $0.6919, which is a 7.15% drop over 24 hours and 12.09% across the week.

At the same time, the market capitalization of the cryptocurrency, which is currently the eighth-largest in this aspect, stood at $23.39 billion at the time of publication, according to CoinMarketCap data.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts