Analysts witnessed a surge in transfer volume on the Cardano network
In 2022, the number of ADA’s token transactions over $100 000 increased by 50 times
31.03.2022 - 13:00
326
2 min
0
What’s new? The volume of transfers on the Cardano network has increased dramatically, according to analytics firm IntoTheBlock. The analysts believe that this may indicate a massive purchase of ADA tokens by institutional investors. .
What is known about the network? Cardano is a blockchain platform with the native ADA token. The platform allows developers to create smart contracts and decentralized applications. ADA trades at $1,22 on March 31. During the week, the altcoin gained more than 12%, according to CoinGecko.
What had happened before? On March 29, the Milkomeda Foundation launched a “C1” sidechain compatible with the Ethereum Virtual Machine (EVM), which is directly connected to the Cardano blockchain. With the sidechain, the users can move their assets between the two blockchains, enabling the deployment of decentralized Ethereum-based applications on the Cardano network.
Useful material?
Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024