- According to Cardano Daily, Genius Yield DApp is the fastest-growing in terms of the number of unique accounts.
- The growth rate of the number of unique accounts on Genius Yield is 2,810%.
- Cardano’s recent surge is a reflection of the cumulative growth of DApps running on its network.
The Cardano daily news handle on Twitter has reported Genius Yield as the DApp with the highest growth in the number of unique accounts on the network. In the 5 days under investigation, Genius Yield hosted 1,700 unique accounts, representing a 2,810% growth rate.
Ranking second on the table was Aada Finance with 185 unique accounts representing a 329% growth rate. Crypto Dino followed in the third position with 44 unique accounts translating to a 183% growth rate.
In the crypto industry, the number of unique accounts is used to gauge the level of adoption of a particular product. It gives an idea of the growth rate of a given product and can be used to check the pulse of the ecosystem for any period.
The top performer, Genius Yield has established itself as the most adopted DApp on the Cardano network. It is a protocol designed to allow users to interact with multiple applications. The creators of the DApp describe it as an “all-in-one DeFi platform that combines concentrated liquidity DEX with an automated yield optimizer.”
The increased adoption of Genius Yield comes off the back of its GENS token public sale. It was an exercise executed in four stages between December 5, 2022, and December 21, 2022.
Along with Genius Yield, all ten DApps listed on the chart showed impressive results in the number of unique accounts. The least performing among them is the community-classified DApp, ADAO. Despite coming in the 10th position, ADAO still returned a growth rate of 22%, albeit with 12 unique accounts.
The cumulative performance of these DApps contributes to the impressive growth of Cardano since the beginning of 2023. In less than two weeks, the native token of Cardano, ADA, has surged by 30%. The proof-of-stake DApps creation blockchain has again shot to the limelight, generating discussions about whether Cardano is finally ready to live up to its original expectations.
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