Despite the major leg down at the end of the business week, on-chain data showed that the daily active addresses on the Cardano network surged to roughly 1.7 times September\u2019s weekday average following the launch of a new token standard.<\/p>\n
At the same time, Cardano reached a substantial milestone in its bid for a .ada internet domain.<\/p>\n
Data from Santiment Intelligence shows<\/a> that Cardano recorded approximately 27,500 daily active addresses on October 7 and almost as many a day later, which is significantly higher than the average weekday level seen in September. The analysts tested whether the broader market decline could explain the increase but found that active addresses on Bitcoin and Ethereum remained at or below their respective September norms during the same period.<\/p>\n The timing coincided with the October 7 launch of CIP-0113, Cardano\u2019s new programmable token standard. The Cardano Foundation explained<\/a> that the standard lets issuers of regulated assets such as stablecoins and tokenized funds build requirements, including KYC, sanctions checks, and transfer restrictions, directly into native Cardano tokens.<\/p>\n It went live following multiple independent security audits and has been recognized by the Capital Markets and Technology Association (CMTA), CF said.<\/p>\n Despite this uptick in activity, Santiment warned that it remains below Cardano\u2019s late-August local high. It remains to be seen now whether this increase survives beyond the initial launch period, especially as ADA\u2019s price rally has cooled. The asset recently soared<\/a> to a multi-month peak of $0.28, where it was rejected<\/a>, and the subsequent leg down drove it below $0.24 on Friday. However, it\u2019s up by over 7% in the past 24 hours again.<\/p>\n The activity spike coincided with another potentially important development for the broader Cardano ecosystem. CF revealed<\/a> at TOKEN2049 earlier this week that its application for the .ada generic top-level domain has advanced to the next phase of ICANN\u2019s New gTLD Program. The proposal previously received approximately 75% support from the Cardano community through an on-chain Governance Action.<\/p>\n If approved, .ada would operate as a genuine internet top-level domain, similar to extensions such as .com or .org. CF believes it could eventually support simplified wallet addresses, decentralized identity integrations, and domain tokenization. However, ICANN still needs to assess the application\u2019s technical, financial, and operational readiness, with successful domains from the current round expected to be delegated between 2028 and 2030.<\/p>\n The post Cardano Just Delivered Two Bullish Signals at TOKEN2049 as ADA Rebounds<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Despite the major leg down at the end of the business week, on-chain data showed that the daily active addresses on the Cardano network surged to roughly 1.7 times September\u2019s weekday average following the launch of a new token standard. At the same time, Cardano reached a substantial milestone in its bid for a .ada […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-238006","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/238006"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=238006"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/238006\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=238006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=238006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=238006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}New Cardano Milestone<\/h2>\n