After a series of ongoing Cardano network development, it seems to be bringing results as the cryptocurrency emerges among the top active chains. Of course, this is just in over the last 24 hours as of November 15th.
Furthermore, Cardano is recording $18.24 billion in transaction volume, taking the second spot behind Bitcoin.
More so, Bitcoin records a volume of $21.67 billion. Whereas, Cardano’s volume is double when in comparison with Ethereum’s $9.31 billion. Then, Bitcoin Cash has the fourth rank at $4.5 billion, while Litecoin emerges fifth at $3.4 billion.
Notably, The transaction volume data is after Cardano’s smart contract upgrade. Of course, it permits developers to create apps with capabilities on the blockchain. Also, Ethereum is still the dominant network offering smart contract functionality.
Additionally, The transaction volume is making waves in the crypto community. Then, Charles Hoskinson, the CEO of Cardano developer IOHK makes comments.
“Pretty spooky ghost chain if you ask me https://t.co/2SG3F37UrI” — Charles Hoskinson (@IOHK_Charles) November 15, 2021
Generally, ADA is still the asset with most interest from investors due to its to emerge relatively low price. Also, The network is receiving considerations as an “Ethereum killer.”
More so, Cardano continues to grow it’s use cases. Although, Ethereum surges in value while dominating the decentralized finance (DeFi) and non-fungible tokens (NFTs) sectors.
However, as per high transaction volume on Cardano network, investors are expecting some future surges.
Lastly, the Cardano ecosystem upgrades is giving it good records of growth in other metrics.
Of course, ADA’s staking wallets hits a total of 942,117 on November 10, 2021, signifying a growth of 14.7% from 821,024 addresses on September 10, 2021.
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