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Cardano Outshines Ethereum and XRP in Transaction Volume

Cryptocurrency Feb 28, 2022 12:00PM ET
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© Reuters Cardano Outshines Ethereum and XRP in Transaction Volume

    • Cardano community is busier due to ongoing on-chain activity surges.
    • Cardano flips Ethereum and XRP in transaction volume.
    • Cardano blockchain expanded by 13GB since the beginning of the year.

The Cardano community is busier than ever. A burst of events caused Cardano to surpass Ethereum and XRP’s transaction quantities in the last 24 hours. According to Messari statistics, the Cardano blockchain processed a report of $17.03 billion, Ethereum registered a busting transaction quantity of $4.49 billion and XRP sat at $431 million.

In addition, this is not the first time Cardano has surpassed Ethereum in daily transaction volume. Earlier this month, Cardano led both Bitcoin and Ethereum for transaction activity. Notably, this was the first time Cardano surpassed the standard crypto’s adjusted transaction volume.

On the other hand, Ethereum is still well-recognized as a smart contract leader. In fact, it has seen plenty of success seeing as developers continue to scramble to the network.

However, this has led to network congestion for Ethereum which has driven up gas fees. Therefore, users have opted towards speedy Proof-of-Stake (PoS) rival blockchains like Cardano where gas fees are relatively cheaper.

In recent months, Cardano’s development has been commendable and can be seen in the growth of its market capitalization. In addition, the Cardano blockchain has expanded by approximately 13 GB since the beginning of the year, meaning a lot of chain activities.

Above all, these elements represent a dynamic Cardano blockchain. At the time of writing, the ADA price is $0.881696 with a 24-hour volume of $1.5 billion. Despite the recent attempt to stage a comeback, ADA is still approximately 71.55% away from its all-time high of $3.10 back in September 02, 2021.

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Cardano Outshines Ethereum and XRP in Transaction Volume
 

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