Cardano activity suddenly increases

Cardano's recently completed Chang update already seems to be bearing fruit. The blockchain records an increase in active users and trading volume.

In recent days, the Cardano-blockchain a sudden increase in the number of daily active addresses. This is according to an analysis of the on-chain observers of Santiment.

According to them, the number of active wallets rose to more than 52,000 on Sept. 5. This is the highest level since May of this year. In the following days, however, the number decreased slightly again.

The increased activity follows the successful implementation of the Chang Hard Fork on Sept. 1. This is part of the so-called Voltaire-era, the final part of the project's roadmap.

This stage transfers blockchain leadership to the Cardano community. The Hard Fork allows direct voting on any changes or delegation of voting rights to representatives. It also establishes a constitution committee and creates a new governance role for stake pool operators, which will be phased in over the next 90 days.

Not only the new upgrade, but also the launch of a new memecoin launchpad apparently caused growth on the blockchain.

Following the launch of Snek.Fun the largest daily trading volume ever (in ADA) on Cardano was measured. Within seconds of its launch, the platform counted more than 20,000 active users. After 24 hours, more than 2,000 tokens had also been created.

However, the ADA price barely benefited from the flaring activity. Over the past 24 hours, the crypto currency temporarily rose 3%. Still, ADA remains far from this year's peak of $0.76.

Still, the coin managed to make up for last week's losses. Both the leading currencies Bitcoin and Ethereum each lost more than 5%. Cardano, on the other hand, posted weekly gains of more than 3%.