Cardano is also seeing significant gains over the seven-day period. ADA is currently trading at $0.833, down 73% from its $3.09 all-time high on Sept. Such a large amount potentially indicates an increased interest coming from larger market players and corporations. The positive on-chain metrics have not helped ADA prices, which have slumped 13% over the past 24 hours, according to CoinGecko. The others in the report included Solana, Polkadot and Tezos. Related: Blockchain-based internet company 3air abandons Cardano for SKALE networkĬardano was listed by Morgan Stanley’s wealth management global investment office as one of the four “Ethereum killer” blockchains that could usurp smart contract superiority from Ethereum due to its lower costs and faster speeds. Ethereum boasts 76 million addresses to Cardano’s 3.4 million addresses for example. Source: Messariĭespite trailing in transaction volumes, Messari shows Ethereum still dominates Cardano in several other key network usage metrics. It was down 82% to a three-month low of $3.99 billion on Saturday. 4 when volume reached a three-month peak of $21.29 billion. Ethereum’s volume has been declining since Dec. Bitcoin’s 24-hour volume is down 84% from its three-month peak of $116 billion on Nov. 20, 2022, according to Google’s Cardano Blockchain Insights.Ĭonditions were ripe for Cardano’s move up the ranks as both Bitcoin and Ethereum have seen declining network activity lately. Regardless of the SundaeSwap effect on the network, the total number of transactions on Cardano has increased 480% from 5.5 million on March 30, 2021, to nearly 32 million on Feb. The hype around this launch caused days of congestion on the blockchain from the huge influx of transactions. Transaction volume on Cardano has spiked in recent weeks in large part due to the launch of the SundaeSwap decentralized exchange. However, it is still far from the $138-billion all-time high in the volume set on Sept. 14, 24-hour transaction volume topped $35 billion and on Saturday, it reached $31 billion. Overall, this month has seen tremendous activity on Cardano. #Cardano just surpassed $LTC and $ETH in transaction volume.Īre you bullish on $ADA?- The Moon February 21, 2022 Cardano can process over 350 transactions per second, and this can jump to. Cardano is in second place in that category and is closing in on the top position for this metric. Cardano is trending and poised to take on the largest cryptocurrency in the. With Bitcoin ( BTC) at $18.85 billion and Ether ( ETH) at $5.25 billion, according to Messari. The Cardano blockchain has experienced an explosion in on-chain activity and now trails only Bitcoin in current 24-hour transaction volume, surpassing Ethereum in the process, according to Messari.Ĭardano ( ADA) currently has $17.04 billion in 24-hour transaction volume, according to data from on-chain analytics firm Messari.
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