The Cardano network saw a remarkable surge in transactions, surpassing Ethereum and XRP records in 24 hours.
It is understood last week, the transaction record at Cardano reached a value of $ 17.4 billion. While Ethereum only recorded a total transaction worth $ 5.25 billion and XRP was only $ 700 million.
However at the time of writing this article, the record changed drastically in 24 hours. Cardano only processed $ 384 million worth of transactions, followed by XRP ($ 515 million) and Ethereum at $ 4.63 billion.
Even so, Cardano’s growth deserves close attention as this is not the first time it has managed to overcome the second largest network in the crypto space.
In early February, Cardano successfully surpassed transaction records for the Bitcoin and Ethereum networks.
Other than that:
The total locked -in value (TVL) in Cardano soared from a value of $ 70 million to a level of $ 115 million at the time this article was written.
TVL Cardano has hit an all -time high (ATH), $ 129.53 million on Feb. 20th.
Most of the funds are accumulated on decentralized exchange platforms (DEX), SundaeSwap ($ 112.83 million) and MuesliSwap ($ 1.95 million).
Total Cardano wallets increased 3.66% (4,565) during the period 1 - 24 February 2022.
While the wallet that stores the ADA has surpassed 3.1 million as of February 24.
The direction of price movement is ADA
At the time of writing, the ADA is trading at $ 0.87, up 0.51% in 24 hours, showing a positive performance after last week’s market collapse.
The ADA trip is still a long way from the ATH record, $ 3.0 on September 2, 2021. At least this coin needs a jump of up to 254.68% to redeem the previous record.
While the current situation further strengthens the flat movement of the crypto market, analysts think there is a chance for the ADA to touch the $ 2.79 level by the end of the year.
