According to crypto data aggregator Messari.io, Cardano (ADA) outperformed Bitcoin (BTC) and Ethereum (ETH) in the category of most transaction activity in 24 hours. It represents an adjusted transaction volume of $17.15 billion, surpassing 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.
Cardano Battle For Fee Supremacy
In the last day, Cardano transaction fees have been unusually low, reaching $51,985.
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 are not charged.
DDos (distributed denial-of-service) attacks are rare. Cardano recently announced its Basho phase, which will see some network changes, including higher transaction block sizes and memory improvements for Plutus, the programming language that powers Cardano’s smart contracts and decentralized apps.
Cardano (ADA) Gaining Popularity in the Crypto Sector
Back in January, Cardano launched its first DEX called SundaeSwap, which was initially met with criticism after the dApp suffered network congestion issues, and has been operating smoothly with over 75 million ADA traded just after three weeks.
ADA, Cardano’s native token, will need to continue operating smoothly in order to keep up its attractiveness for other players looking to enter into the arena.
The Cardano Alonzo hard fork in 2021 introduced the Plutus platform, a smart contract programming language with necessary tools to support smart contracts. Plutus script transactions have taken over simple transactions on the Cardano Network. The introduction of decentralized applications has also improved the attractiveness of Cardano.
The number of wallets holding ADA recently passed the three million mark.
What do you think about this subject? Write to us and tell us!
