Vladislav Sopova

Cardano (ADA) Enthusiasts Shared Statistics: The Blockchain Eclipsed Bitcoin (BTC) By Transaction Volume

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Cardano (ADA) Daily Transaction Volume Pushes New HighsCardano-Ergo DEX on the verge of mainnet launch

As activity on the Cardano (ADA) decentralized financial (DeFi) ecosystem increases, the aggregate volume of all transactions recorded on it rose to new heights.

Cardano (ADA) Daily Transaction Volume Pushes New Highs

An anonymous Cardano (ADA) enthusiast stopping by @Haskellion on Twitter has shared statistics from Messari’s terminal. It displays the net volume of transactions processed by this or that blockchain in the last 24 hours and the total fees collected.

#CARDANO HAS THE BIGGEST 24-HOUR VOLUME WITH THE LOWEST AMOUNT OF COSTS BY A LONGSHOT

#1 DEVELOPER ACTIVITY

LOOK AT THE TRENDS, WE KNOW WHERE THIS IS GOING pic.twitter.com/L8EwS9vZPL

— HASKELLION (@Haskellion) March 4, 2022

According to Messari data, Cardano (ADA) eclipsed Bitcoin (BTC) by USD-denominated transaction volume in 24 hours. Cardanians sent $33.45 billion in equivalent, while Bitcoiners sent $33.27 billion.

At the same time, the Bitcoin (BTC) network generated 23x more costs than Cardano (ADA): for Bitcoin, this statistic reached $860,000, while for Cardano (ADA) it was $38,000.

To provide context, Cardano’s main smart contract competitor, Ethereum (ETH), has been charging its customers $14.7 million in fees in the past 24 hours.

Cardano-Ergo DEX on the verge of mainnet launch

Most likely, this increase can be attributed to the influx of liquidity into the ecosystem of Cardano-based decentralized finance (DeFi) protocols.

As previously described by U.Today, Cardano’s DEX, AdaSwap, is now endorsed by Israeli actress Gal Gadot, an award-winning world cinema superstar.

Another Cardano-based DeFi protocol, ErgoDEX — which is set to bridge the Cardano (ADA) and Ergo blockchains — is getting closer to the mainnet release.

As Cardano’s launch is just around the corner, we’ve decided to give everyone a taste of what to expect, stay tuned! pic.twitter.com/mJyELaG23l

— ErgoDEX (@ErgoDex) March 4, 2022

The team shared a sneak preview: ErgoDEX is getting decentralized exchange features, a liquidity-providing (LP) module, and other DeFi-specific tools.