According to data provided by Messari, aside from Bitcoin (BTC), the largest cryptocurrency by market cap, Cardano (ADA) is massively leading other digital currencies, including Ethereum (ETH), in terms of transaction activity.
Based on transaction volume, Cardano, the largest proof-of-stake (PoS) blockchain, surged to double that of Ethereum (ETH) over the last 24 hours.
Per data from Messari, the 24-hour Cardano transaction volume stands at $12.69 billion, while Ethereum only managed to accrue $6.38 billion in the last 24 hours.
Adjusted volume is still a good means to separate only the most important transactions. Cardano also outperformed Ethereum in this aspect, recording $12.50 billion and $4.70 billion, respectively, over 24 hours.
A couple of days ago, TimesTabloid reported that Cardano displaced Bitcoin and Ethereum to occupy the first position based on 24 hours transaction volume, negating critics who claimed that Cardano is a ghost chain.
Since the beginning of the year, the leading blockchain has been displaying an outstanding performance with loads of activities on the network.
Cardano Blockchain Keeps Expanding
According to Cardano Blockchain Insights, the Cardano blockchain experienced about 13 GB growth since the start of the year, representing a massive increase in on-chain activity.
Captioning the screenshot of the growth’s graphical representation, Cardano Blockchain Insights tweeted, “Since 1st January Cardano Blockchain grew by about 13 GB. Historically speaking this is a lot and clearly there is a lot of chain activity.”
Since 1st January Cardano Blockchain grew by about 13 GB. Historically speaking this is a lot and clearly there is a lot of chain activity. pic.twitter.com/kV15bjeP9O
— Cardano Blockchain Insights (@InsightsCardano) February 21, 2022
More developers continue to get interested in leveraging the Cardano blockchain, with the aim of producing new use cases within the capacity of smart contracts functionality.