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On March 21st, Cardano saw a daily transaction volume 4 times higher than Bitcoin. This means that during those 24 hours, Cardano has the highest transaction volume in the entire blockchain industry. It marks a new all time high for the network when it comes to volume on-chain, and the second time Cardano has surpassed Ethereum in 2022.
On March 21st, the transaction volume for Cardano was 68.76 billion US dollars. For Bitcoin, on the same day, volume sat at 15.9 billion USD, and Ethereum in 3rd place saw 3.63 billion. Yet, despite all the trading volume, Cardano fees never rose above the 50K US dollars over the same period, according to the data from Messari.
To give some perspective, over the same 24 hours, Ethereum fees almost reached 10 million US dollars. Even though transaction volumes on Ethereum were around 9 times smaller than those seen on Cardano over the same period of time.
This solidifies Cardano as the biggest PoS network in the entire industry. The rest of the list is dominated by PoW blockchains, with the closest competitor being Tron at spot number 8th. After the 21st, Bitcoin once again took the lead from Cardano. Yet, Cardano remains in second place with a healthy lead over the rest of the competitors.
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