1 August 2026
Almost 1000 Projects Are Now Building On Cardano
The Cardano’s hydra upgrade lead to steady growth and system enhancement. Currently, Cardano is in the Basho phase, and its goal is to create an optimized ecosystem to support and foster the development of decentralized applications (Dapps). It has already witnessed considerable growth, with nearly 1000 projects built on Cardano so far.
Projects related to NFTs had the largest level of activity on Cardano at 47.9%, as creators and users bet on the blockchain’s promising stellar performance. Popular rapper Snoop Dogg has also invested in Cardano’s NFTs, and he has collaborated with Clay Nation to bring ‘iconic’ NFTs to the network.
Users are more attracted to projects that allow interoperability between blockchains, and Cardano has also leveled up its game on this subject. After Cardano’s launch of the K EVM program this year, it has already made inroads in cross-chain compatibility. Last month, Milkomeda, a Layer 2 Protocol delivering EVM capabilities to non-EVM blockchains went live on the Cardano mainnet. It will allow users to deploy Ethereum DApps on the Cardano ecosystem for the first time. This is set to bring in more Ethereum based DApps and liquidity.
The estimated global lending industry market size is to reach $26.08 billion by 2028. 24% CAGR will be registered from 2021 to 2028, while Cardano is also gearing up to take a piece of the pie. In March, ADALend, a lending protocol on Cardano, announced a new bridging functionality between the Cardano network and the Velas and BSC networks. This functionality will allow users to bridge their ADAL coins to boost the usability and functionality of the platform.
Additionally, AADA finance recently started allowing staking of $AADA on their app, days after Coinbase opened up staking for ADA.
Many decentralized exchanges have set up shop on the Cardano network enabling millions of dollars worth of liquidity to flow through the blockchain. It has resulted in the growth of ADA’s TVL, which currently stands at circa $299M, with most of the liquidity being in DEXs.
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