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The Cardano blockchain recorded its highest level of network activity in the past five years, processing 1,780,896 transactions during the five-day Epoch 660 cycle (October 6–11).
According to confirmed data from analytics service Cexplorer.io, this result surpassed the previous all-time record of 1.56 million operations, which had stood since November 2021 (Epoch 304).
The current surge is notable because it occurred not amid speculative hype, but as a result of actual network utilization.
The main driver of traffic was community mobilization during the Voltaire era of decentralized governance. The end of Epoch 660 coincided with the conclusion of major on-chain votes by Delegated Representatives (DReps).
One possible reason is that users massively activated their wallets to vote on changes to the network's economic parameters, including a reduction in the base pool cost (minPoolCost).
Although the initiatives ultimately failed to reach the required quorum, the voting process turned into a large-scale organic stress test of Cardano's architecture.
The network handled this load without disruptions: average block density reached 83.83 transactions per block, while the total output volume over five days reached ₳46.71 billion. Fee economics remained stable: the system generated ₳337.72K in transaction fees, keeping the average cost of a single transfer at just ₳0.19 (about $0.05).
Cardano is operating at the limits of its capabilities, but investors seem completely unimpressed
However, the market completely ignored the blockchain's fundamental achievements. Despite record traffic, the native ADA token fell 3.58%, dropping to $0.2429.
According to the TradingView technical chart, the asset's attempt to establish itself above the $0.2600 level failed due to a bearish divergence forming on the RSI oscillator. The price increase was not supported by the indicator's momentum, leading to a reversal and the asset falling back below the moving averages.
At present, there is a complete decoupling between the network's operational strength and its market value, although the subsequent Epoch 661 continues to maintain high capacity utilization at 38%.
Arman Shirinyan
Dan Burgin
