March 29, 2024

The Cardano network surpassed Bitcoin and Ethereum in terms of transaction activity

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According to Messari, at the end of last week, the networkCardano has surpassed networks of cryptocurrencies such as Bitcoin and Ethereum in terms of daily trading activity of users. The volume of transactions with Cardano reached $17.15 billion, while for Bitcoin this figure was just over $15 billion, and on the Ethereum network it was only $8.64 billion.

Cardano has been feeling likequite confidently, its market capitalization has reached $36 billion, and according to this indicator, the project already ranks seventh among all world cryptocurrencies.

The Cardano network has surpassed Bitcoin and Ethereum in transaction activity

Source: coinmarketcap.com

Interest in it is largely due to the constant technical improvement of the Cardano blockchain.So, in early February, the block volume in the Cardano network increased to 80 KB, which made it possible to improve the network throughput and the operation of smart contracts, of which there are now more than a thousand.

But they appeared only in the fall of 2021 after the activation of the Alonzo update.It was launched in September 2021 and made it possible to start using NFTs, DApps, and DeFi on the network of this cryptocurrency.

Competitorfor

Ethereum

, the Cardano project has been repeatedly called the "Ethereum killer", suggesting that over time it will be able toThe corresponding poll on Twitter was conducted by the "father" of Ethereum, Vitalik Buterin.

He asked his followers what financial asset they were consideringas an alternative to Ethereum, and received 42% of the votes for Cardano.There were more of them than for bitcoin (38%).In third place was Solana - 13%, and in fourth place - the dollarUSA, which gained 6.5%.

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Source: twitter.com

Cardano is gaining more and more popularity these days.users, including thanks to constant network updates and improvement of the mechanism for conducting transactions. Now this cryptocurrency is among the top ten projects with the largest market capitalization and at some points even leads in terms of user activity, and it is possible that Cardano will soon increase its position in the crypto market.

Author: Dmitry Noskov - expert of the StormGain crypto exchange (platform for trading, exchanging and storing cryptocurrency)

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