According to data provided by blockchain analytics firm Messari, Cardano has surpassed Bitcoin with trading volumes of $17.15 billion and $15.11 billion, respectively, in the last 24 hours.

While the proof-of-stake blockchain recorded the highest number of transactions, it also had some of the lowest fees. Cardano has generated just $52,000 in fees in the last 24 hours, compared to Bitcoin's $700,000 and Ethereum's $22.1 million.

chains activity

The metric isolates only meaningful transactions to accurately compare data from UTXO-based chains and Ethereum-like account-based blockchains.

Cardano recently surpassed three million wallets and reached another milestone. Developers continue to adjust the parameters of the network as they continue to work on scaling solutions during the “Basho” phase of the blockchain roadmap.

SundaeSwap was released in late January, but its debut was fraught with technical issues. Some users started complaining about not getting their native SUNDAE token after the swap. The project attributed a large number of failed swaps to high levels of network congestion. At the time of writing this article, about 80% of all blocks are occupied. In late January, the blockchain load peaked at 94.1%, preventing apps from working properly.

Cardano ADA

Earlier this week, Cardano-based decentralized exchange Minswap also announced the completion of its security audit. The ADA price surged more than 40% in a week at the start of the SundaeSwap launch, but it was unable to hold onto those gains. ADA is currently trading at $1.07 on Binance and is struggling to make a comeback.

Cardano Price and Market Data

Cardano price was traded at $1.07 at the time of writing, with a 24-hour trading volume of $915,431,159. The ADA price has increased by 0.8% in the last 24 hours. There is a supply of 32 Billion Cardano (ADA) in circulation, and a total supply of 45 Billion ADA. Digifinex is currently the most active market where this is traded.