- The recent volume is one of the highest volume levels since mid-2018.
- The number of addresses has increased from 3.4 million to 5 million.
According to IntoTheBlock, the number of big transactions on the Cardano blockchain has surged more than 50-fold this year. Transactions denominated in Cardano’s ADA tokens valued at more than $100,000 are called Large Transaction Volume (LTV). LTV has climbed from 1.35 billion ADA per day on January 1 to 69 billion ADA (worth $81.4 billion) on Monday.
This is one of the highest volume levels since mid-2018, according to IntoTheBlock’s data, is a 51-fold rise in only three months. “increasing institutional demand” was the firm’s view on the high volume on Tuesday.
Volatility Largely Stable
According to the data, total addresses have been rising since the beginning of 2022, but other measures like average transaction size and volatility have remained largely stable. The number of addresses has increased from 3.4 million at the beginning of the year to 5 million. However, Charles Hoskinson, co-founder of Cardano, predicted that the hard fork planned in the middle of the year would add many additional decentralized apps (Dapps).
At $303 million as of this writing, total value locked (TVL) falls short of the $326 million all-time high achieved on Thursday. At Binance Blockchain Week in Dubai on Monday, Hoskinson delivered a passionate keynote lecture that emphasized the need for decentralization and the problems in coordinating that it presents. Although “we are entering a new era,” “unlike with Web2, there’s no leader” to make choices for the business, he added.
According to CoinMarketCap, the Cardano price today is $1.22 USD with a 24-hour trading volume of $1,453,260,527 USD. Cardano has been up 2.35% in the last 24 hours.
