Cardano (ADA) continues to innovate despite the bear market

As Cardano’s single-address business (ADA) drops to its lowest level in a year, the Cardano-based Typhon wallet has been upgraded to support multi-address transactions.

An update from Typhoon

ADA can now be sent to multiple addresses simultaneously with this Cardano Wallet feature.

This implies that users may now be able to send ADA or other supported tokens to multiple recipients in a single transaction, resulting in lower transaction costs, Typhon Wallet commented on the fare difference: ” Just a little more than a one-time fee, but MUCH less than doing 2 separate transactions. Try it and you will see the difference, you will be amazed

Typhon, a blockchain wallet from Cardano, supports the sending and receiving of CNFTs, native tokens, and even tokens with metadata saved in the ledger.

With the Typhon wallet, users can transfer native tokens and other tokens registered with metadata. Additionally, users can securely store ADA and perform ADA transactions using Ledger Nano S / X and / or Trezor T.

The wallet also allows users to send, receive and even view non-fungible tokens based on Cardano or CNFT.

Additionally, users can store ADA in completely different wallet accounts without having to manage multiple ones seminal sentences. The Typhon wallet supports, among other things, the seminal sentences of 12, 15 and 24 words.

Cardano’s unique address activity is the lowest in a year

As of June 27, the unique addresses on Cardano’s network were 53,050, the lowest figure in a year, while over the past 30 days the figure averaged 73,204, according to data from blockchain analytics firm Santiment.

Cardano ADA fell to the low of the year
source: Santimento

Likewise, conversations about ADA on major social media platforms also plummeted to their lowest level in four months, in line with the general correction in the cryptocurrency market, in part due to the gigantic collapse of Terra, to whose employees it is now banned from traveling to South Korea.

However, sentiment on social platforms could reverse if ADA embarks on a rally, especially with fear of losing (FOMO) taking hold among investors, with the behavioral analytics platform noting that ” when the ADA increases, FOMO should return quickly “.

The hard fork Vasil late

Cardano founder Charles Hoskinson explained the delay in releasing the update

What the complete code actually means is that you could probably flip the switch and day: get away with it, and some projects would, but what happened after Earth (LUNA) collapsed, c is that I gave a directive to many engineers that we should probably measure three times and cut once given the nature of things. “

the hard fork it is considered important for the Cardano ecosystem, especially after the integration of the functionality of smart contracts. In particular, the hard fork will allow the network to accelerate the effectiveness, scalability and efficiency of the Cardano blockchain.

Cardano therefore continues to innovate, working on new features for its walletson his hard fork Vasil, but the bear market it is catching up with technology and for the moment ADA’s business remains very weak.

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Alessio Patin

Passionate about geopolitics, economics, cryptocurrency, Eurasia and travel! (as far east as possible), crypto-trader for 4 years.

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