Cardano Sees Impressive Statistics Heading Into the Weekend

Charles Hoskinson revealed in a Tweet on 3 June that Cardano (ADA) has the highest daily on-chain volume. By the end of May 31, ADA’s on-chain trading volume stood at $11.8B, and its Year-to-Date now stands at 369%.

By the end of May 31, ADA’s on-chain trading volume stood at $11.8B, and its year-to-date now stands at 369%.Cardano got a small bounce the second half of Friday trading after large whale transaction counts began to appear on the ADA network.At the moment, Cardano is trading at $0.5664 after a 2.64% drop in price over the last 24 hours.

Daily On-Chain Transfer Volume (Source: Kraken Intelligence, Coin Metrics)

In other Cardano news, a Tweet from Santiment on June 4 revealed that “Cardano got a small bounce the second half of Friday trading after large whale transaction counts began to appear on the ADA network. An extreme example of the last time whales accumulated on a downswing, prices jumped +28% in the span of 18 hours.”

Cardano whale transaction count (Source: Santiment)

After the Cardano whale transactions saw the spike, it led to a +5% price increase at the time.

Possible reasons for the whales’ excitement surrounding Cardano could be ADA’s Vasil Harfork Event that is just around the corner.

Cardano is currently in the 6th position on CoinMarketCap’s list in terms of market capitalization. This puts ADA behind Binance Coin (BNB) in the 5th position and right in front of Ripple (XRP) in the 7th position.

At the moment, Cardano is trading at $0.5664 after a 2.64% drop in price over the last 24 hours. This price translates to about 0.00001904 BTC or 0.0003191 ETH. ADA also saw a 24 hour high of $0.5741.

At the moment, Cardano’s market cap stands at $19,107,686,691 which is down 2.85% over the last day.

The crypto also saw a 24 hour trading volume of $846,662,424 which is 16.06% lower than yesterday’s number.