A Huge Spike In Cardano NFTs, Smart Contracts and Defi Projects

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In recent weeks, there has been a rise in activity involving DeFi and smart contracts on the Cardano blockchain. With over 2,000 smart contracts deployed on the blockchain, the blockchain’s smart contract activities have exploded.

An increase in activity

For the first time in the history of the blockchain, Cardano recently surpassed 2,000 smart contracts. The announcement comes after skeptics have criticized the network for its declining activity since the Alonso testnet upgrade last year.

In addition to the increase in smart contracts, the chain’s DeFi activity has seen a sharp increase in its TVL (Total Value Locked) for March. DeFi’s TVL is an important indicator of interest in the technology. Cardano TVL has increased 39,000% since the beginning of 2022.

Even with these increases, the Cardano team appears to be focused on development. The Vasili hard fork is scheduled for June. As a result of this hard fork, we expect increased transaction throughput on the platform and increased liquidity anCardano ($ADA) has increased by 30% in the past month from $0.89 to a current price of $1.16.crease of 30%. The price of Cardano is still less than half of its all-time high of $3.10.

Snoop Dogg X Cardano

Recently, Snoop Dogg announced a collaboration with a Cardano NFT project entitled Clay Mates. He has previously expressed strong convictions about the NFT and the metaverse as a whole. He has been particularly interested in Ethereum-based projects.

In an upcoming NFT collectibles drop, Snoop Dogg will collaborate with his son, Cordell Broadus, also known in the NFT world as Champ Medici. Additionally, they will release a new map area exclusive to Clay Nation, dubbed ‘Baked Nation’.

As part of the preparation and research phases before the announcement of this partnership, Champ Medici commented on Twitter: “I didn’t know the CNFT community was that deep”, which is a very positive comment on the space coming from a big name.

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