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Cardano's Q2 2023 Report: DApp Transactions Up 49%, TVL Up 10%, and Treasury Balance Increases

Messari's State of Cardano Q2 2023 report reveals that the Cardano network has seen an increase in average daily dApp transactions for the third consecutive quarter. The report also highlights the growth of Minswap, a Cardano automated market maker, which processed 1 million monthly transactions in May and June, an increase of 167.5% QoQ. Additionally, Cardano's DeFi TVL in U.S. dollars increased by 9.7% in Q2, and the network's average daily transaction increased by 1.9% QoQ. Despite a decrease in daily active addresses, Cardano's treasury balance increased by 8.5% to 1.30 billion ADA in Q2.

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