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Cardano defies crypto downturn as transaction volume soars 200%


Johnivan0

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Despite the prices of most assets on the cryptocurrency market recording a bearish streak in recent weeks, Cardano (ADA) is recording impressive results in other departments, including transaction volume and count, active crypto wallets, and accumulation by large holders.

Indeed, Cardano has recorded a significant increase in daily transaction volume, growing by 205.01% since the year’s turn, with more than 26 billion ADA transacted per day, according to the Cardano blockchain analysis by crypto monitoring platform IntoTheBlock shared in a Twitter thread on May 22.

As per the platform’s observations, the transaction count has remained stable during bear market conditions, witnessing a 33.45% increase from the yearly lows and a recent notable peak in daily transaction volume, reaching a three-month high of 98,000 transactions in one day.

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On 5/23/2023 at 10:41 AM, Johnivan0 said:

Despite the prices of most assets on the cryptocurrency market recording a bearish streak in recent weeks, Cardano (ADA) is recording impressive results in other departments, including transaction volume and count, active crypto wallets, and accumulation by large holders.

Indeed, Cardano has recorded a significant increase in daily transaction volume, growing by 205.01% since the year’s turn, with more than 26 billion ADA transacted per day, according to the Cardano blockchain analysis by crypto monitoring platform IntoTheBlock shared in a Twitter thread on May 22.

As per the platform’s observations, the transaction count has remained stable during bear market conditions, witnessing a 33.45% increase from the yearly lows and a recent notable peak in daily transaction volume, reaching a three-month high of 98,000 transactions in one day.



 

Despite the recent downward trend in cryptocurrency prices, Cardano (ADA) has shown impressive growth in various areas. It has experienced a significant increase in daily transaction volume, with over 26 billion ADA being transacted per day. Additionally, the transaction count has remained stable during bear market conditions, with a recent peak of 98,000 transactions in a single day, marking a three-month high.

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While many cryptocurrencies have seen their prices decline recently, Cardano (ADA) stands out with its notable achievements. One area where Cardano shines is in daily transaction volume, which has experienced a remarkable growth of 205.01% since the beginning of the year. This means that more than 26 billion ADA coins are being exchanged on a daily basis, indicating a thriving ecosystem.

 

Furthermore, despite the market downturn, the number of transactions being conducted on the Cardano blockchain has remained steady. In fact, it has witnessed a 33.45% increase from the yearly lows, demonstrating resilience and sustained activity. Recently, Cardano reached a significant milestone by processing a record-breaking 98,000 transactions in just one day, marking the highest figure in the past three months.

 

These positive indicators suggest that Cardano's network is being actively utilized and embraced by users, while also drawing attention from larger holders who are accumulating ADA. This robust performance sets Cardano apart and showcases its potential for long-term growth and adoption within the cryptocurrency market.

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