According to Cardano Blockchain Insight and pool.pm, the Cardano (ADA) network held record streams for almost two weeks due to the launch of the SundaeSwap decentralized exchange, or DEX, the first of its kind operated by Cardano. At the same time, the total value of the ADA blockchain reached an all-time high of around $ 80 million, despite the token’s recent price drop due to a persistently low market.
The current average load on the blockchain network is 93.19%, which means that 93.19% of the blocks are filled. In context, the calculation was only 32.49% on New Year’s Eve. The number of ADA wallets is about to cross the 3 million mark.
Many ADA enthusiasts have taken to social media to celebrate important events. However, the phenomenon of a network approaching full capacity due to the addition of only one DEX raises questions about its usefulness, although expansion solutions are coming soon. Reddit user Additional_Till_838 noted:
“I do not like this because it paints a picture of the Cardano blockchain being overwhelmed and struggling to cope with this burden. This may scare investors away from Cardano and make them believe it is an unreliable blockchain.”
Not everything went smoothly during the launch of SundaeSwap. Soon, user reports of failed transactions began to circulate widely on social media. At the time of posting, users were still claiming that their DEX commands were still being processed despite being sent a few days ago. More importantly, the platform is involved in an open commercial dispute over allegations of failure to deliver on investor promises under the Cardano CardStarter acceleration program. Even Charles Hoskinson was involved in the disaster, asking both sides to “get together!” and resolve their differences through arbitration or litigation.