Cardano's popularity in the crypto-verse is increasing.
According to a report by the crypto intelligence firm IntoTheBlock, the number of large transactions on the Cardano blockchain has seen a 50 fold increase this year.
@Cardano is experiencing increasing institutional demand. The volume of on-chain transactions >$100k has increased by 50x just in 2022. Yesterday, a total of 69.09b $ADA were moved in these large transactions, representing 99% of the total on-chain volume,
a tweet dated March 29 reads. Since Jan. 1, the Large Transaction Volume (LTV), an aggregated indicator that shows transactions worth over $100,000, has increased from 1.35 billion ADA per day to 69 billion ADA.
IntoTheBlock emphasizes that it is one of the highest volume levels for Cardano since mid-2018. The number of total addresses has likewise been increasing since the start of 2022 – from 3.4 to 5 million.
The average transaction size and volatility, however, remain relatively stagnant.
In his recent interview, Cardano’s co-founder Charles Hoskinson stressed that “we are entering a new era” with Web3, but the problem is that “unlike with Web2, there’s no leader” to make decisions for the industry”.
If we’re truly decentralized, we have to somehow come together and figure this out. We have to write some sort of constitution for these things; we have to decide ‘What is the Bill of Rights for the use of cryptocurrency and blockchain technology?
he said.Otherwise, “we’ll have custodians, we’ll have escort keys, highly centralized, highly optimized consensus algorithms that can be reset at any time. The few will be in control of the many”, adding that everyone must participate in the process to find a solution.
In the past weeks, Cardano’s market performance has been strong. Trading at $0,87 on March 14, its price has gradually increased, hitting the $1.19 mark on March 29 with a market cap of $40,213,367,343.
