Cardano Sees 50x Increase in Large Transactions in 2022

IntoTheBlock, a blockchain intelligence company, has reported a rise in institutional interest in Cardano. The company cites a 50x parabolic increase in cryptocurrency’s on-chain transactions of over $100,000, just in 2022.

Yesterday’s tweet by the firm stated that 69 billion ADA had been moved in large transactions. They accounted for more than 99% of Cardano’s total on-chain trading volume. This compares to 1.35 billion ADA on January 1st. That’s a 51-fold increase. The volume of transactions for Cardano has increased from 3.5 million addresses to 5 million since January 1st, a 51-fold increase since then. Other coins, such as Shiba Inu, are experiencing a decrease in addresses that have a balance. However, other metrics, like the average transaction size, remain stable, due to Cardano’s popularity with DeFi. While $300 million has been locked in DeFi protocols by Cardano, it is still a significant increase since the beginning of the year. However, this number is dwarfed at $126 billion by Ethereum. On Monday, Charles Hoskinson, co-founder of Cardano, spoke about the importance of maintaining coordination and decentralization in crypto during Binance Blockchain Week in Dubai. He spoke Monday at Binance Blockchain Week in Dubai about maintaining coordination and decentralization of crypto.
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