Cardano outperforms Bitcoin in transaction activity as ADA price remains in limbo
Cardano has again surpassed Bitcoin in terms of daily transaction volume
Cardano has surpassed Bitcoin in adjusted transaction volume over the past 24 hours ($17.15 billion and $15.11 billion, respectively), according to data provided by blockchain analytics firm Messari.
@Cardano ranks 1st for most transaction activity (adjusted volume last 24 hours) and overtook #BTC and #Ethereum† I think this is worth a few re-tweets. Can @cardano_whale† @DeansEpoch† @CardanoPolice† @IOHK_Charles and @DanielTetsuyama help spread? pic.twitter.com/O7PD8bORLD
— lowfusscrypto 🇭🇺🧛♂️🇺🇸 (@lowfusscrypto) February 13, 2022
The proof-of-stake blockchain recorded the highest number of transactions and also had some of the lowest fees. Cardano has only generated a minuscule $52,000 in fees in the past 24 hours compared to Bitcoin’s $700,000 and Ethereum’s $22.1 million.
The metric only isolates meaningful transactions to accurately compare data from UTXO-based chains and account-based blockchains from Ethereum, for example.
As reported by U.Today, Cardano has also recently crossed three million wallets, hitting yet another adoption milestone.
Input Output developers continue to tweak the parameters of the network as they continue to work on scaling solutions during the “Basho” phase of the blockchain roadmap.
SundaeSwap launched at the end of January, but its debut was fraught with technical issues. Some users started complaining about not receiving the native SUNDAE token after trading.
The project attributed failed swaps to a high degree of network congestion.
Earlier this week, Cardano-based decentralized exchange Minswap also announced the completion of its audit.
The ADA price rose more than 40% in a week leading up to the launch of the SundaeSwap, but it has failed to maintain this gain. The token is currently trading at $1.06 on the Binance exchange.