Cardano outperforms Ethereum in terms of transaction volume and ADA price jumps to 1.5 dollars


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Cardano is still present in the competition with other projects such as Ethereum and Solana.

According to data provided by Messari, Cardano has overtaken Ethereum in terms of transaction volumes over the past 24 hours as Cardano has processed $7.02 billion while Ethereum has processed $5.41 billion.

The two competing cryptocurrencies are neck and neck when it comes to transaction volume.

Notably, Cardano users paid only $66,058 in total transaction fees in the past 24 hours, compared to $44.74 million in Ethereum.

While critics tend to dismiss Cardano as a “ghost network,” there are actually some notable Proof of Stake (PRO) DApps operating on the network, such as Ardana, the decentralized trading platform Maladex, and the decentralized banking protocol.” MELD” and the “CNFT.IO” non-fungible token market.

And SundaeSwap, which is launching a decentralized exchange platform powered by Cardano, recently announced that it will launch its mainnet next Thursday.

John Woods, director of Cardano engineering at Input Output, described several solutions expected to launch on Cardano in 2022, including improvements to the Plutus script, Hydra, sidechains, and Mithril.

He also said that there are a huge number of projects that are about to be completed, and added:

We have really solid plans for expansion.

Last week, Cardano also won a poll published by the founder of Ethereum, which asked about an alternative to Ethereum that could become the world’s dominant cryptocurrency by 2035.

CoinMarketCap data showed that the price of ADA is up nearly 11% in the last 24 hours.

The currency has added more than 23% over the past week.

It is now the fifth largest cryptocurrency by market capitalization, surpassing USDC and Solana.

Read also:

Poll: Over 70% of Crypto Investors Joined in 2021

Report: Over 50 questionable crypto projects built on the Binance blockchain

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