Minswap Tops Cardano Transaction Leaderboard

The leaderboard covers activity recorded between August 17 and September 16, 2026. Its current dataset includes 62 applications and standards across six categories, providing a project-level view of identifiable Cardano activity.

Minswap Leads Cardano Onchain Activity

Minswap accounted for approximately 31.7% of all transactions attributed by the leaderboard.

WingRiders followed with 42,090 transactions, while Dano Finance placed third with 30,756. Together, the three applications generated 167,151 transactions, representing 56.2% of the tracked total.

FMS by Trivolve ranked fourth with 19,398 transactions, followed by Splash with 18,819. Identity platform 5am.earth recorded 16,556 transactions, while Midnight Distribution contributed 15,034.

The leading entries cover decentralized trading, lending, notary records, identity services and token distribution.

DEXs Account for Nearly Two Thirds of Activity

Decentralized exchanges generated 185,850 transactions, giving the DEX category a 62.5% share of identifiable activity. Minswap and WingRiders contributed most of that total, with Splash, CSWAP and SundaeSwap also appearing among the ten leading entries.

Lending applications ranked second by category with 36,706 transactions and a 12.3% share. Dano Finance produced most of that activity, while Liqwid Finance, Indigo Protocol and FluidTokens appeared further down the ranking.

Notary applications recorded 19,540 transactions, identity services generated 16,557 and distribution projects accounted for 15,791.

The leaderboard measures transaction count rather than financial value. Its rankings do not represent trading volume, protocol revenue or unique users, while different application designs can produce different numbers of onchain transactions for comparable user actions.

The Leaderboard Covers Only Identifiable Cardano Activity

Cardano.org reports that 22 of the 107 applications in its directory currently have transaction tracking enabled through statsLabel. The leaderboard also identifies known smart contract addresses and metadata patterns, bringing the displayed total to 62 applications and standards.

The dataset does not include every transaction processed by Cardano. Simple ADA transfers, ADA staking operations and activity from applications without recognized identifiers are not attributed to individual projects.

The current result therefore represents identifiable application activity rather than total network demand. Each project added to the tracking system expands the measured dataset and can change both the rankings and the distribution between Cardano application categories.