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Cardano Sees 6x More Transaction Volumes Than Ethereum at $42.1 Billion Topping in On-Chain Activity


Tomiwa Bolt Oradide

Cardano outperforms Bitcoin and Ethereum by more than $ 42.1 billion in terms of trading volume

By recent data from Messari, Cardano has six times the volume of Ethereum transactions in the last 24 hours, with a present value of $ 42.1 billion. Overall, Cardano is the leader in on-chain activity, leading in 24-hour transaction volume and coordinated transaction volume.

Cardano surpassed the major cryptocurrencies Bitcoin and Ethereum, recording $ 36.38 billion and $ 7.42 billion, respectively. Adjusted transaction volume is a great way to isolate only the most important transactions.

Messari
On-chain activity, source: Messari.io

Cardano outperformed the lead cryptocurrencies Bitcoin and Ethereum in adjusted transaction volume, with a 24-hour volume of $ 41 billion compared to Bitcoin’s $ 13.83 billion and Ethereum’s $ 5.94 billion.

Cardano’s large-scale transactions surge

In addition to this, the Cardano blockchain has reported a significant increase in large transactions over $ 100,000 in the last 24 hours.Around IntoTheBlock According to the data, the number of large Cardano transactions has increased by nearly 83% over the past day to 6,715.

IntoTheBlock
Large transaction, courtesy: IntoTheBlock

According to IntoTheBlock, a large transaction is one in which the amount transferred exceeds $ 100,000. The volume on the chain of these trades provides an idea of ​​how much whales and institutional players trade on a particular day.

A large increase in trading volume indicates an increase in activity between institutional investors and sellers.

As U.Today As previously reported, Cardano continues to see accumulation as the price on March 1 approaches $ 1 and large addresses holding 100,000 to 1 million tokens have purchased over 16,000,000 ADAs. I am.

With similar news, decentralized CardanoThe base exchange, Ada Swap, has secured $ 2.6 million from investors such as Pluto Digital, GBV Capital, iAngels, Finova Capital and Banter Capital. Israeli actress Gal Gadot, who became an international superstar in Wonder Woman in 2018, is one of the angel investors who funded the project.

The former model states that participating in AdaSwap’s funding round was an “exciting investment opportunity” for her. Charles Hoskinson, the founder of Cardano, welcomed former Israeli soldier Gadot into the “Cardano family”.

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