Saturday, June 10, 2023

Cardano Wrecks BTC and ETH


In terms of adjusted transaction volume, Cardano has beaten bitcoin out of the park in the last 24 hours.

Thus according to crypto data aggregator, Cardano outperformed Bitcoin (BTC) and Ethereum (ETH) in the category of greatest transaction activity in a 24-hour period.

Cardano (ADA) is a digital asset with a market valuation of $33.19 billion dollars. With an average daily trading volume of $912.89 million, Cardano ranks 4th in the worldwide cryptocurrency rankings. Its value now is $1.04.

The price has changed by -1.37 percent in the last 24 hours. The total number of coins in circulation is 32 066 390 668.41. The score for liquidity is 77.63. The BeInCrypto community has given cryptocurrencies a rating of 59.744.

It represents an adjusted transaction volume of $17.15 billion, surpassing out BTC and ETH at $15.1 billion and $8.6 billion, respectively, according to transaction behavior.

Adjusted transaction volume provides extra context for transaction volume since it explains a method for comparing UTXO and account-based transactions fairly, whereas transaction volume merely refers to the total amount moved on a blockchain.

When it comes to transaction volume, Bitcoin comes out on top with $36.7 billion, while Cardano comes in second with $17.5 billion.

Fee Supremacy

In the recent day, Cardano transaction fees have been unusually low, reaching $51,985. Input Output Hong Kong demonstrates that due diligence pays in the last 24 hours.

As of February 10, the most recent available data shows an average transaction charge of $0.44. Over the last 24 hours, the network’s average blockchain load reached 81 percent. Failed transactions that happen during peak load times don’t charge.

DDos (distributed denial-of-service) attacks are rare. Cardano recently announced its Basho phase, which will see a number of network changes, including higher transaction block sizes and memory enhancements for Plutus, the programming language that powers Cardano’s smart contracts and decentralized apps.

Cardano launched its first DEX, SundaeSwap, in January, to mixed reviews when the dApp experienced network congestion. Since then, the platform has been running well, with over 75 million ADA transacted in just three weeks.

Cardano’s native cryptocurrency, ADA, will have to continue to function efficiently in order to maintain its appeal to newcomers.

The Plutus platform, a smart contract programming language with essential capabilities to handle smart contracts, releases with the Cardano Alonzo hard fork in 2021.

On the Cardano Network, Plutus script transactions have surpassed basic transactions. Cardano’s appeal has also risen as a result of the development of decentralized applications.

The number of ADA wallets has recently surpassed three million.


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