Cardano overtakes Ethereum based on transaction volume

Cardano has surpassed Ethereum based on daily transaction volume over the past 24 hours. This is evident from data from Messari.

Cardano and Ethereum remain rivals

Thus, according to data from Messari, Cardano Ethereum is over in terms of transaction volume over the past 24 hours. These are amounts of $7.02 billion and $5.41 billion. The two rival crypto currencies are neck and neck when it comes to transaction volume.

Yet there is a big difference. Cardano users paid just $66,058 in transaction fees in the past 24 hours compared to Ethereum’s $44.74 million.

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The opening of SundaeSwap

An important reason for the increasing volume is the launch of SundaeSwap. The decentralized exchange recently announced that it will launch its mainnet this Thursday.

John Woods, director of Input Output, described numerous scaling solutions expected to be implemented in 2022. He also said there are a huge number of projects nearing completion:

“Depending on how busy it is at any given time, you may need a few extra minutes for your transaction. However, we have a very solid plan for scaling up.”

Cardano is back in the top 5

Last week, Cardano won a poll posted by Ethereum founder Vitalik Buterin asking which alternative to Ether could become the largest crypto currency in the world by 2035.

The price of the ADA token is up about 10% today, according to data from CoinMarketCap. In the past 7 days, the price has actually increased by 37%. ADA is now the fifth largest crypto currency by market capitalization, surpassing USD Coin stablecoin and Solana.