Cardano Attracts More Institutional Investors as On-Chain Transaction Volumes Increase 50 Times
The post Cardano Attracts More Institutional Investors as On-Chain Transaction Volumes Increase 50 Times appeared on BitcoinEthereumNews.com. Arman Shirinyan Institutions are coming to the Cardano network as the transaction volume increases massively According to data from IntoTheBlock, ADA just faced...
Institutions are coming to the Cardano network as the transaction volume increases massively
According to data from IntoTheBlock, ADA just faced an inflow of institutional funds to the network as the on-chain transaction volume faced a 50-time increase, reaching 69 billion.
Increased demand on the Cardano network was most likely tied to the general growth of the network as its TVL exceeded $300 million, total market capitalization broke through $40 billion and the price hit a two-month high.
@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 volumehttps://t.co/8ME8STvRSF pic.twitter.com/aqH7hYIPiV
— IntoTheBlock (@intotheblock) March 29, 2022
According to additional data provided by IntoTheBlock, the number of large transactions with volumes exceeding $100,000 jumped by 50 times. The total volume of funds removed on March 28 consisted of large transactions by 99%.
What does large institutional volume mean?
Such a rapid increase in institutional volume is reflecting the increased fundamental value of the project. Since the beginning of the year, developers working on the Cardano network released and actively developed new use cases for the blockchain, like peer-to-peer exchange and EVM-compatible Layer 2.
With the release of new solutions on the chain, Cardano becomes more relevant for institutional investments that often look for real value behind the project rather than speculative returns.
In analogy with Ethereum’s path on the market, experts expect a rapid increase in Cardano’s capitalization and number of users. The theory speaks of the increase in transactional volume, number of holders and total value locked in various smart contracts.
Previously, Cardano’s TVL exceeded $300 million while staying at around $100 million at the beginning of the month. Almost a three-time increase was caused by a series of decentralized app releases like Minswap and others.
In terms of the market capitalization and price, ADA saw at least a 50% increase compared to the beginning of the year.
Source: https://u.today/cardano-attracts-more-institutional-investors-as-on-chain-transaction-volumes-increase-50-times
Post navigation
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
