Tuesday, December 6

Cardano (ADA) Transaction Volume Retraces Towards All-Time High with $65 Billion.

According to the fundamental growth of the Cardano Network, the transaction volume has recently peaked at $86 billion and then quickly retracted down. but from the Messari data on-chain provider, the Network seems to be gaining momentum back.

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This last month, March has been a great month for Cardano as more than $300 million flowed into the Ecosystem as a result of the more project and solutions that appear. With the rise of the TVL, the network saw a never-seen volume increase totaling $86 billion.

ADA

Such a strong spike in volume also correlated with the price of the underlying coin, ADA which rallied by over 50% within three weeks.

U.Today previously covered a series of announcements by projects that are actively building various solutions and dApps on top of the Cardano blockchain. Experts from the industry noted that the simultaneous release of stablecoins, wrapped and synthetic assets, and more features would lead to the exponential growth of the network in the next few months.

Solutions like stablecoins bring more than $4 billion on average to blockchain like Tron, according to the report on their official channels. Stablecoins bring even larger volumes to blockchains like Omni and Ethereum.

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Looking at the new projects on the Cardano blockchain, the usage of the network is expected to rise very well, which may probably lead to an increase in the transaction fees that users will pay and other transactions with the network.

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