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    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

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    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

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    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

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    Economic Fail Or Key To A Creative Future?

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    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

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    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

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    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

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    Celsius denies allegations on Alex Mashinsky trying to flee US

    Celsius denies allegations on Alex Mashinsky trying to flee US

    France facing backlash for Binance regulatory approval, French MEP called the move “surprising and worrying”

    France facing backlash for Binance regulatory approval, French MEP called the move “surprising and worrying”

    Community reacts after SEC’s Gensler affirms BTC’s commodity status

    Community reacts after SEC’s Gensler affirms BTC’s commodity status

    Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report

    Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report

    Central African Republic president launches crypto initiative following Bitcoin adoption

    Central African Republic president launches crypto initiative following Bitcoin adoption

    Educating regulators will help to mitigate risks, says Figment exec

    Educating regulators will help to mitigate risks, says Figment exec

    Swiss National Bank exec: Regulators may favor centralized stablecoins after Terra crisis

    Swiss National Bank exec: Regulators may favor centralized stablecoins after Terra crisis

    China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

    China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

    Catalonia is building its own metaverse, says innovation minister

    Catalonia is building its own metaverse, says innovation minister

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  • Home
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    • Bitcoin News
    • Altcoins
  • NFT’s
    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    Economic Fail Or Key To A Creative Future?

    Economic Fail Or Key To A Creative Future?

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    The Web 3 LAND Sale

    The Web 3 LAND Sale

    Disney Metaverse

    Disney Hires Former Apple Executive to Head Metaverse Creative Strategy

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    Man wearing smart glasses touching a virtual screen to access the metaverse

    How The Metaverse Can Change Mental Health For The Better

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

  • Analysis
    Ethereum

    Ethereum Turns Red, Why ETH Must Hold This Key Support

    bitcoin bollinger bands

    Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

    Bitcoin

    Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key

    Ethereum

    Ethereum Bulls In Control, Why ETH Could Clear $1,300

    Bitcoin

    Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

    bitcoin google

    Is Bitcoin Like Buying Google Early? The Shocking Comparison

    Harmony's Cross-Chain Bridge Exploited for $100M

    Harmony’s Cross-Chain Bridge Exploited for $100M

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

  • Learn About Crypto
    Overbought vs. Oversold Signals

    Overbought vs. Oversold Signals

    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

    What Is Crypto Lending

    How to Survive a (Crypto) Bear Market

    How to Survive a (Crypto) Bear Market

    Top 6 Crypto Events for June 2022 – Coingape

    What Is A Bull Flag Pattern and How to Use It

    What Is A Bull Flag Pattern and How to Use It

    A Beginner’s Guide To Reversal Candlestick Patterns

    A Beginner’s Guide To Reversal Candlestick Patterns

  • Regulation
    Celsius denies allegations on Alex Mashinsky trying to flee US

    Celsius denies allegations on Alex Mashinsky trying to flee US

    France facing backlash for Binance regulatory approval, French MEP called the move “surprising and worrying”

    France facing backlash for Binance regulatory approval, French MEP called the move “surprising and worrying”

    Community reacts after SEC’s Gensler affirms BTC’s commodity status

    Community reacts after SEC’s Gensler affirms BTC’s commodity status

    Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report

    Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report

    Central African Republic president launches crypto initiative following Bitcoin adoption

    Central African Republic president launches crypto initiative following Bitcoin adoption

    Educating regulators will help to mitigate risks, says Figment exec

    Educating regulators will help to mitigate risks, says Figment exec

    Swiss National Bank exec: Regulators may favor centralized stablecoins after Terra crisis

    Swiss National Bank exec: Regulators may favor centralized stablecoins after Terra crisis

    China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

    China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

    Catalonia is building its own metaverse, says innovation minister

    Catalonia is building its own metaverse, says innovation minister

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Cardano Daily Transaction Volume Up, But ADA Prices Remain Sluggish

February 22, 2022
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Cardano is now positioning itself among the rapidly growing blockchain networks by 24-hour transaction volume, surpassing Ethereum and threatening to surpass Bitcoin. Along with this demand, however, is its soaring price.

The total number of transactions on Cardano has increased at around 500%, skyrocketing from 5.5 million in March last year to around 32 million this month, according to Google’s Cardano Blockchain Insights.

ADA, Cardano’s internal cryptocurrency, currently has a total market cap of $29.245 billion. It is listed on the No. 7 spot in CoinMarketCap’s rankings of the leading cryptocurrencies.

ADA is currently trading at $0.871949, according to Coingecko’s chart.

Cardano TVL up 25%

The digital token’s price also rose by 30% within the past week and over 20% in the last month. 

DeFi Llama data show that Cardano now has around $3 million worth of digital assets locked in its TVL which is a 25% growth within the last 24 hours alone.

Still, despite the potential exhibited by Cardano network, the digital currency is still far away from overcoming its all-time high of $3.09 which was its price in early September of last year.

Moreover, the ADA coin has lost around 2% of its gains within the last 24 hours, with its trading price at $1.49, according to CryptoSlate.

ADA total market cap at $29.245 billion in the daily chart | Source: TradingView.com

Related Article | Survey Predicts Cardano (ADA) Hitting $58 By Year 2030 – And Finish 2022 At $2.72

Project Launch, Cheaper Fees

Blockchain analysis states that ADA’s recent surge can be attributed to the mainnet launch of SundaeSwap, a native, scalable decentralized exchange and automated liquidity provision protocol, last January. 

This project attracted investors for its Initial Stake Pool Offering (ISO), enabling Cardano owners to streamline their respective coins. It also increased their chances of earning rewards after a certain period of time.

Aside from this project, the blockchain conditions of both Bitcoin and Ethereum were simultaneously declining in network activity. 

Bitcoin, Ethereum Down

Bitcoin’s 24-hour volume was down by around 80% from its 3-month peak of $116 billion. 

Meanwhile, Ether blockchain’s transactions have been decreasing since its three-month peak of $20 billion last December. It hit as low as 82% to a three-month low of nearly $4 billion on Feb. 19.

Some analysts further say that this spike is also because transacting on Cardano is a lot cheaper than in Ethereum. 

For context: while hitting a record-high in daily transactions and overcoming Ethereum, Cardano only generated less than $100k in transaction fees compared to the latter which earned more than $40 million in fees alone. 

Related Article | Verlux, A Cardano Based Project Announces Updates On Its Up-Coming Staking Platform

Featured image from VOI, chart from TradingView.com

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Tags: ADACardanoDailyPricesRemainSluggishtransactionvolume
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