Cardano outperforms Ethereum based on on-chain activity

Cardano outperforms Litecoin and Ethereum in terms of on-chain activity as the ADA blockchain grows.

Cardano blockchain is growing

According to recent data from messari Cardano currently ranks second when it comes to transaction activity. This surpasses Litecoin and Ethereum. Bitcoin comes first. Cardano achieved 24-hour volume of $12.71 billion today. Ethereum and Litecoin achieved a volume of only $6.20 billion and $2.84 billion.

#cardano is again the first network when it comes to the highest transaction volume in the last 24 hours. $ADA pic.twitter.com/TCdtmNYWQN

— Cardanians.io with CRDN 🏊 (@Cardanians_io) February 20, 2022

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The Cardano blockchain continues to grow

In addition to the growing on-chain activity, the number of ADA addresses has also grown explosively in recent times. The Cardano Blockchain continues to grow enormously and that is a positive sign.

Since 1st January Cardano Blockchain grew by about 13 GB. Historically speaking this is a lot and clearly there is a lot of chain activity. pic.twitter.com/kV15bjeP9O

— Cardano Blockchain Insights (@InsightsCardano) February 21, 2022

Cardano remains one of the most actively developed networks in the blockchain industry. Cardano is still in the top three in contributions, according to the Activity Contributors Count.

More and more developers are leveraging the Cardano blockchain and producing new use cases with the availability of smart contracts. The decentralized exchange platform SundaeSwap is the largest to date, with at least 98% of its total value locked.