According to Messari data, Cardano has outperformed Ethereum in terms of transaction volume over the last 24 hours ($7.02 billion vs. $5.41 billion, respectively).
When it comes to adjusted transaction volume, the two rival cryptocurrencies are neck and neck.
Notably, Cardano users only paid $66,058 in transaction fees in the last 24 hours, compared to $44.74 million for Ethereum.
While some opponents dismiss Cardano as a “ghost chain,” numerous prominent dApps such as stablecoin hub Ardana, decentralized exchange Maladex, decentralized banking protocol MELD, and non-fungible token marketplace CNFT.IO are already running on top of the proof-of-stake blockchain.
SundaeSwap, a Cardano-powered decentralized exchange, officially announced the launch of its mainnet on Thursday.
Input Output’s John Woods, head of Cardano architecture, described a number of scaling options that are scheduled to be implemented in 2022. (Plutus script enhancements, Hydra, sidechains and Mithril). He also stated that “an immense” number of projects were reaching the end of their development:
Depending on how busy it is at the time, you may have a number of extra minutes for your transaction to complete. However, we have a really sound scaling strategy.
Cardano (ADA) also won a poll sponsored by Ethereum founder Vitalik Buterin last week, in which he asked which Ether alternative could wind up becoming the world’s dominant cryptocurrency by 2035.
Cardano has re-entered the top five.
According to CoinMarketCap data, the price of the native ADA coin has increased by about 7%. It has increased by more than 26% in the last week.
It has surpassed the USD Coin, stabecoin, and Solana to become the fifth-largest cryptocurrency by market capitalization.