Cardano ($ADA) has seen its spot trading volume on centralized cryptocurrency exchanges plunge by 55.4% in December to $3.52 billion, recording its largest drop in monthly volume since February 2018. As per CryptoCompare’s latest Asset Report, Cardano also witnessed the lowest monthly trading volume since October 2020. However, 1,151 projects were built on top of Cardano in December 2022, with 32% related to non-fungible token (NFT) collections.