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😱🔥Cardano Records Huge $13 Billion Daily Txn Volume
Cardano is witnessing a resurgence of whale interest, with large transactions on the network increasing to an average of $13 billion per day over the past seven days.
On-chain data from the blockchain surveillance resource IntoTheBlock confirms this trend. IntoTheBlock went to X today and announced that Cardano dominated some of the largest daily trading volumes last week and almost competes with the leading cryptocurrency Bitcoin (BTC).
The ISLAND Sees an Average Daily Transaction Volume of $ 13 Billion
According to the statement, the volume of #ADA transactions worth at least $ 100,000 has increased to an average of $ 13.84 billion per day over the past seven days. More data shows that this huge volume is one third of Bitcoin's volume in the same time period and more than 16 times the volume of Dogecoin.
In particular, the highest daily trading volume in the last seven days reached $ 14.08 billion on April 22, when ADA recovered the $0.51 price threshold with an impressive intraday gain of 3.48%. While #Cardano left this price zone to the bears during its 4-day losing streak, a steady decline in large trading volume was seen.
But despite this decline, the cumulative volume of these transactions remained above $ 10 billion, and the lowest figure recorded last week was $ 10.32 billion on April 27. Since this low, the trading volume has recorded a gradual increase with the latest figure. in the amount of $ 10.32 billion.
This increase in Cardano's large trading volume may indicate increased interest from institutional investors or significant movement within the network, potentially indicating increased confidence in the project. However, these movements do not provide useful directional signals, as they may represent inflows or outflows from stock markets.
