Cardano Beats Bitcoin and Ethereum in Terms of Transaction Volume

According to data provided by Messari, Cardano, the largest proof-of-stake (PoS) blockchain, displaced Bitcoin and Ethereum to occupy the first position in terms of transaction volume over 24 hours, negating critics who claimed that Cardano is a ghost chain.

The data shows that Cardano beat Bitcoin and Ethereum at $17.56 billion, while the two largest cryptocurrencies recorded 24-hour volumes of $10.55 billion and $5.77 billion respectively.

Read Also: CoinShares: Ethereum Competitors, Cardano, Solana, Polkadot See Institutional Inflows

Cardano also outperformed Bitcoin and Ethereum in adjusted volumes, with a 24-hour volume of $17.15 billion, while the latter coins managed to record $4.67 billion and $4.25 billion respectively.

Comparing transaction fees, Cardano users paid only $51,985.43 within 24 hours, while Bitcoin and Ethereum users paid $0.51 million and $19.39 million respectively.

Cardano, which has been tagged as a ghost chain now has a number of decentralized applications (DApps) running on top of its blockchain. And the number of wallets holding ADA has also surpassed three million.

A Cardano enthusiast shared the new height with the community members a couple of hours ago.

“Cardano’s in 1st place for most transaction activity (Adjusted Volume last 24 hrs) It overtook BTC and Ethereum.  Adjusted transaction volume is a way to isolate only meaningful transactions and fairly compare utxo & account models. Look at the fees.”

Read Also: This Metric Shows That Cardano (ADA) Hasn’t Been This Undervalued Since March 2020 Crash

SundaeSwap’s Milestone

Moreover, the Cardano-based decentralized exchange, SundaeSwap, has reportedly attained a milestone of over 75 million ADA traded after only three weeks of mainnet launch.

SundaeSwap tweeted, “After only 3 weeks of being live, #SundaeSwap has reached over 75,000,000 ADA traded!”

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