HomeNewsCardano's Remarkable Rise: ADA Beats Ethereum in Whale Transaction Volume

Cardano’s Remarkable Rise: ADA Beats Ethereum in Whale Transaction Volume

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  • Cardano (ADA) is averaging $13 billion in large transactions daily, significantly surpassing Ethereum’s $5 billion weekly average.
  • Despite this, Cardano’s market capitalization remains a fraction of Ethereum’s, highlighting the ongoing competition between Layer-1 networks.

In a notable shift in the cryptocurrency landscape, Cardano (ADA) has emerged as a formidable contender to Ethereum (ETH) in terms of large transaction volumes, as reported by the crypto analytics platform IntoTheBlock (ITB).

The Cardano Advantage: A Surge in Whale Transactions

Over the recent months, Cardano has witnessed a remarkable surge in whale activity. Data from ITB shows that the blockchain is settling an average of $13 billion daily in transactions valued over $100,000, coined as ‘large transactions’. This volume far exceeds that of Ethereum, which records a 7-day average of $5 billion in similar transactions.

This significant increase in Cardano‘s transaction volume is particularly noteworthy given the overall bearish sentiment in the market. Despite a downturn in its market price and capitalization, with a 2.56% decline to $0.5177 and a market cap of $18,322,533,885, respectively, Cardano maintains a dominant position in large transaction volumes. Ethereum, although experiencing milder growth rate, has shown an increase in its large transaction volume by 6.74% to $4.16 billion over the past 24 hours.

Cardano vs. Ethereum: The Ongoing Rivalry

The rivalry between Layer-1 networks like Cardano and Ethereum is reminiscent of the competition in the memecoin sector. While Cardano’s community harbors ambitions of surpassing Ethereum in market capitalization, the reality presents a stark contrast. Ethereum’s market cap stands at a colossal $302,549,903,898, dwarfing Cardano’s $18.3 billion.

For Cardano, its strength lies not just in whale volume, but also in developer activity and network innovation. The blockchain has consistently showcased its potential in attracting significant transactions, indicating a robustness that appeals to large-scale investors and market participants.

Looking Ahead: Cardano’s Market Position

Although Cardano‘s market cap is significantly smaller than Ethereum’s, its triumph in whale transaction volumes cannot be understated. This achievement marks a milestone for Cardano, reflecting its growing influence and potential in the cryptocurrency market.

As the dynamics between leading Layer-1 networks continue to evolve, Cardano’s recent performance in whale transactions sets a precedent, highlighting the ever-changing landscape of blockchain technology and digital assets. The ongoing competition among these networks not only fosters innovation but also provides a diverse ecosystem for investors and users.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628