Cardano Activity Jumps as CIP-0113 Launch Coincides With ADA Rebound

Cardano activity rose sharply around the launch of its CIP-0113 token standard, while ADA rebounded and the ecosystem advanced an application for a .ada internet domain.

The network recorded about 27,500 daily active addresses on Oct. 7 and nearly the same number on Oct. 8. That was roughly 1.7 times Cardano’s average weekday level in September.

Activity on Bitcoin and Ethereum stayed at or below their respective September weekday averages during the same period. Cardano’s reading nevertheless remained below its local high from late August.

The activity spike coincided with the Oct. 7 launch of CIP-0113, a programmable token standard for Cardano. It allows issuers of regulated assets, including stablecoins and tokenized funds, to embed requirements such as know-your-customer checks, sanctions screening and transfer restrictions into native tokens.

ADA recently reached a multi-month peak of about $0.28 before falling below $0.24 Friday. The token was up more than 7% over the 24 hours ending Saturday.

The Cardano Foundation’s application for the .ada generic top-level domain had advanced to the next phase of the Internet Corporation for Assigned Names and Numbers’ New gTLD Program. The proposal received about 75% support in an on-chain Cardano community governance vote.

If approved, .ada would function as an internet domain extension similar to .com or .org. The foundation has identified simplified wallet addresses, decentralized identity integrations and domain tokenization as potential uses.

The application still faces technical, financial and operational assessments. Successful domains from the current application round are expected to be delegated between 2028 and 2030.