Cardano sees huge YTD network activity growth

The Cardano network has seen its network activity steadily rise this year, with metrics such as the number of daily active addresses, the total number of addresses, and the number of transactions all going up.

According to data from IntoTheBlock, the network reached its ATH with almost 10,000 active addresses on Feb 12, which is a 319 percent increase since Jan. 1, 2020.The Cardano network is thriving with a huge increase in activity.

After years of research and slow development, the Cardano network is now closer than ever to being open for business.

The launch of the incentivized testnet for the Shelley era of the Cardano blockchain incited a lot of the Cardano community to take action and participate in the network, leading to its immense success.

In a Feb. 17 tweet, the company showed that the number of daily active addresses on Cardano reached their all-time-high on Feb. 12 with 9,760 addresses.

The active address ratio on the Cardano network has seen a 231 percent rise from the beginning of the year.

The network's Jan. 1 active address ratio was 0.58 percent.

On Feb. 17, the network saw an active address ratio of 1.93 percent.

The overall number of transactions on the network has also been on the rise, seeing an average of 3,610 transactions daily in the past week.

The network's 4,230 transactions recorded earlier this month represent a huge increase from the beginning of the year when the network dipped with around 1000 transactions.