According to data provided by Messari, Cardano is ahead of Ethereum in terms of trading volume over the past 24 hours ($7.02 billion and $5.41 billion, respectively).
The two rival cryptocurrencies differ when it comes to adjusted trading volumes.
Notably, Cardano users only paid $66,058 in transaction fees over the past 24 hours compared to Ethereum’s $44.74 million.
While critics tend to refer to Cardano as a “ghost chain,” there are already a number of prominent dApps running on top of the proof-of-stake blockchain such as stablecoin hub Ardana, decentralized exchange Maladex, exchange MELD decentralized banking and token market cannot replace CNFT.IO.
As reported by U.Today, the Cardano-powered decentralized exchange SundaeSwap recently announced that it will launch its mainnet this Thursday.
John Woods, Cardano architecture director at Input Output, described multiple scaling solutions expected to be deployed in 2022 (Plutus, Hydra, sidechains, and Mithril script enhancements). He also says that there are a “very large” number of projects nearing completion in development:
You may have a few extra minutes to execute your trade depending on how busy it is at a given time. However, we have a really solid plan to scale.
Last week, Cardano (ADA) also won a poll posted by Ethereum founder Vitalik Buterin in which he asked what alternative Ether could become the world’s dominant cryptocurrency by 2035 .
Cardano is back in the top 5
CoinMarketCap data shows that the price of the native ADA token is up around 7%. It has gained more than 26% in the past week.
It is currently the fifth largest cryptocurrency by market capitalization, surpassing both USD Coin and Solana.
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