Cardano (ADA) Is Waking Up, Founder Charles Hoskinson Says

"And remember that so much amazing tech is coming over the next few years," the cryptocurrency proponent said in a post on the X social media network

Cardano founder Charles Hoskinson has highlighted the impressive performance of SundaeSwap V3, hinting at a promising future for the proof-of-stake blockchain network.

In response to statistical data showcasing the DEX's capabilities, Hoskinson's optimism was palpable in a post on the X social media network.

“Cardano is waking up. And remember that so much amazing tech is coming over the next few years,” the cryptocurrency proponent remarked.

SundaeSwap V3, the third iteration of the popular AMM-based DEX, was integrated into the Cardano mainnet last month. Its contracts now boast a notably more efficient pricing model.

Moreover, the latest version of SundaeSwap boasts an impressive transaction capability of 35 transactions per second. This translates to a theoretical capacity of 907,200 orders processed per day.

According to Pi Lanningham, the chief technology officer of Sundae Labs, SundaeSwap V3 processed roughly 9,264 orders in the past 24 hours. Notably, the vast majority of these orders were executed in less than a minute.

While Cardano has faced network congestion in the past, SundaeSwap V3 is designed to bolster the network's transaction throughput, potentially leading to a higher total value locked (TVL) on the blockchain.

As reported by DefiLlama, Cardano currently ranks 29th in terms of TVL, trailing projects like Scroll and Gnosis. Minswap, Lindogo, Liquid, Astarter, and SundaeSwap are the five largest protocols on Cardano.