E Point Perfect
Crypto

Cardano (ADA) Beats Dogecoin, Ethereum and Bitcoin in On-Chain Transfer Volume Growth



article image

Alex Dovbnya

Cardano (ADA) has experienced a 238% increase in on-chain transfer volume this year

According to a recent report published by Kraken Intelligence, Cardano (ADA) experienced a 16% increase in daily on-chain transfer volume.

The cryptocurrency has sufficiently outperformed Bitcoin, Ethereum, Dogecoin, and Algorand. Notably, the largest meme coin experienced a 54% drop in on-chain transfer volume in July.

ADA
Image by docsend.com

Cardano’s ADA has experienced a 238% increase in daily activity on a year-to-date basis.

The report believes that the launch of various applications, such as decentralized exchange SundaeSwap and metaverse gaming application Pavia, is the main reason behind the growth.

The Vasil hard fork, which was expected to launch in July, also contributed to significant growth. As reported by U.Today, the rollout of the much-anticipated upgrade has been postponed due to technical issues.



Source link

Related posts

Solana Lawsuit: Dozens If Not Hundreds of Class Actions Might Likely Be Filed: CryptoLaw Founder

Dawn Zuniga

Comprehensive Guide to The Merge

Dawn Zuniga

Crypto News Digest by U.Today

Dawn Zuniga

Crypto News Digest by U.Today

Dawn Zuniga

Congressional Investigation Finds Bitcoin Companies Consume as Much Energy as Houston

Dawn Zuniga

Cardano Transaction Count Spikes to 75,000 with More to Come

Dawn Zuniga