Cardano outperforms Bitcoin and Ethereum in terms of transaction volumes with over $42.1 billion
According to recent data from Messari, Cardano has seen six times the volume of Ethereum transactions in the past 24 hours at a current value of $42.1 billion. Overall, Cardano leads in on-chain activity, leads in 24-hour trading volumes and adjusted trading volumes as well.
Cardano outperformed lead cryptocurrencies Bitcoin and Ethereum, which recorded $36.38 billion and $7.42 billion, respectively. Adjusted transaction volume remains a good way to isolate only the most important transactions.
Cardano outperformed major cryptocurrencies Bitcoin and Ethereum in adjusted trading volumes, with 24-hour volume of $41 billion, compared to $13.83 billion for Bitcoin and $5.94 billion for Ethereum.
Cardano large transactions spike
Alongside this, the Cardano blockchain reported a massive rise in large transactions greater than $100,000 in the last 24 hours. Per IntoTheBlock data, the number of Cardano’s large transactions has risen nearly 83% over the past day to 6,715.
Large transactions are those where the amount transferred exceeds $100,000, according to IntoTheBlock. The on-chain volume of these transactions gives an idea of how much whales and institutional players are trading on any given day.
Increases in the volume of large transactions indicate increased activity among institutional buyers and sellers.
As U.Today previously reported, Cardano continues to see accumulation as large addresses holding between 100,000 and 1 million tokens bought over 16,000,000 ADA as the price approached the $1 mark on the 1st. March.
In similar news, decentralized Cardano-based exchange AdaSwap has secured $2.6 million in funding from such investors as Pluto Digital, GBV Capital, iAngels, Finova Capital and Banter Capital. Israeli actress Gal Gadot, who became an international superstar with “Wonder Woman” in 2018, is among angel investors who have put their money into the project.
The former model said participating in AdaSwap’s funding round was “an exciting investment opportunity” for her. Cardano founder Charles Hoskinson has already welcomed Gadot, a former Israeli soldier, into the “Cardano family”.
