Cardano network activity surges following CIP-0113 upgrade

Cardano's daily active addresses surged to approximately 27,500 on October 7 and 27,200 on October 8, representing roughly 1.7 times the weekday average for September. This increase in network participation followed the mainnet launch of the CIP-0113 upgrade on October 7.

CIP-0113 introduces a new token standard that enables programmable Cardano-native tokens. These tokens can include rules for know-your-customer (KYC) checks, sanctions screening, freezing, seizure, and transfer restrictions, as well as programmable issuance and burning rules. Cardano Foundation CEO Frederik Gregaard stated that the network can now perform these functions natively.

Despite the rise in on-chain activity, the price of the ADA token declined by approximately 13% between the October 6 close and October 8. This divergence suggests that increased network engagement did not immediately translate into buying pressure. While Bitcoin and Ethereum active addresses remained at or below September norms during this period, Cardano's activity spike was unique to its network. Analyst Giannis Andreou noted that ADA could potentially move toward $0.90 if key resistance levels are reclaimed.