Cardano’s Transaction Volume Overtakes Bitcoin’s and Ethereum’s

Data from Messari shows that over the past month, transactional activity on the Cardano network has been increasing.

In terms of the volume of transactions, Cardano surpassed both Bitcoin and Ethereum in the last 24 hours, with ADA processing transactions worth $10.82 billion, while Bitcoin and Ethereum completed transactions of $6.8 and $1.86 billion, respectively.

However, Cardano still lags behind the two networks in terms of active addresses, with 51,215 ADA addresses involved in these transactions, compared to 936,122 Bitcoin and 518,857 Ethereum active wallets in the same period.

Experts attribute the large turnover of ADA to whales, as deals of at least 1 million ADA were found to have been involved.