Cardano (ADA) developers have significantly ramped up their efforts, increasing the blockchain’s development activity despite recent bearish price action. This surge was highlighted in the latest weekly report from the Cardano team.

According to analytical platform Santiment, Cardano’s development activity has risen sharply over the past week following a recent dip. The number of contributors remains high, indicating substantial efforts to enhance the blockchain’s functionality.

In a recent X post, Input Output Global, a leading research company, detailed the latest developments within the Cardano ecosystem in their weekly report. Notable updates include the Lace team’s launch of Lace v.1.11, featuring improved NFT functionality, and the Mithril team’s release of distribution 2418.1, aimed at preventing memory fragmentation. The report also noted impressive statistics: the total number of native tokens on Cardano has reached 10 million, and transactions have exceeded 90 million.

Despite these developments, ADA saw a brief bullish phase, increasing by nearly 15.41% over the past week before dropping by 7.02% in the last 24 hours. As of now, ADA is trading at $0.5021, with a market capitalization exceeding $17.91 billion. The Relative Strength Index (RSI) hovers near the neutral mark, and the Chaikin Money Flow (CMF) follows a similar trend, suggesting a period of slow movement before potential price volatility resumes.

Cardano’s increased development activity underscores the commitment to improving its functionality and scalability, crucial for enhancing user experience and future growth. These efforts may help stabilize ADA’s value and attract more users and developers to the platform. While Cardano faces short-term bearish trends, its significant development strides signal a promising future for the blockchain, with investors closely watching how these advancements impact the broader crypto landscape.