January 19, 2024 at 01:55 AM GST 2 mins read News
  • Cardano consistently outperforms Ethereum in large transaction volume.
  • Despite a 2.56% price drop, Cardano attracts significant whale transactions.
  • While Cardano dreams of flipping Ethereum in market capitalization, its $18.3 billion cap remains a fraction of Ethereum’s $302.5 billion.

Cardano (ADA) has emerged as a formidable player, outperforming Ethereum (ETH) in a subtle yet significant manner. Data from IntoTheBlock reveals that Cardano’s 30-day volume of large transactions has eclipsed that of Ethereum, pointing to a remarkable trend in the crypto space.

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According to IntoTheBlock, Cardano boasts an average daily settlement of $13 billion in large transactions, defined as those exceeding $100,000 in fiat value. In stark contrast, Ethereum records a mere $5 billion in whale transactions on a weekly average. This surprising revelation underscores Cardano’s ability to attract substantial transactional activity, highlighting its growing prominence in the market.

Despite a 2.56% dip in Cardano’s market price and capitalization over the past 24 hours, the platform continues to be a magnet for market whales. The data showcases Cardano’s resilience, maintaining a substantial advantage in whale transaction volume compared to Ethereum. This resilience becomes even more apparent amid the current bearish sentiment prevalent in the broader cryptocurrency ecosystem.

While Cardano community members harbor ambitions of seeing the protocol overtake Ethereum in market capitalization, the reality remains that Cardano’s $18.3 billion market cap is only a fraction of Ethereum’s colossal $302.5 billion. The road to surpassing Ethereum in market cap may be a distant dream, but Cardano’s strengths lie in areas such as whale volume and developer activity.

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