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Cardano briefly surpasses Ethereum’s transaction volumes, thanks to…

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AMB Crypto

Mon, Jan 17, 2022

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Interestingly, ADA’s price gain has been accompanied by a surge in its transaction volumes as well, which crossed that of Ethereum on 17 January.

According to data by Messari , Cardano momentarily became the number two blockchain in terms of 24-hours transaction volume after it processed around $7.02 billion, compared to Ethereum’s $5.41 billion.

Just getting started Lark, it's just January https://t.co/ToJ923QOAk — Charles Hoskinson (@IOHK_Charles) January 17, 2022 What’s more, the surge in transaction volume did not necessarily mean a high gas fee for the network as is the case for Ethereum.

The surge in on-chain activity has not had a negative impact on Cardano’s network fee, which has dropped from $0.45 to $0.38 on average.

While Cardano had surpassed Ethereum, the brief overtake in volume could be seen as an indication of the network’s growing adoption following a period of severe criticism.

Moreover, Cardano’s development arm IOHK also unveiled the protocol’s scaling plans for 2022 in preparation for a further surge in traffic.

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