Cardano had a strong first quarter, with notable improvements in ecosystem and financial metrics. The network overview section showed a decline in new addresses and daily average transactions, but a $0.01 increase in average transaction fees. The price of ADA increased by 54%, and the treasury balance increased to 1.21 billion ADA, according to the financial overview section. The adoption of new stablecoins led to a 172% QoQ increase in the TVL’s USD value. In Q1, the top DEXs on Cardano were Minswap, SundaeSwap, WingRiders, and MuesliSwap.
Emerging DeFi applications like Djed, Liqwid, Indigo, and Hydra Head helped to boost the value of all stablecoins by 261% QoQ. In its most recent Annual Report, the Cardano Foundation outlined its work in three key areas: operational resilience, education, and adoption.
