Cardano (ADA) Sees Surge in Transaction Volume Amid Network Activity Spike
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Cardano (ADA) has observed a substantial rise in network activity, processing 250,000 payments within the past 24 hours.
Interestingly, there’s been an uptick in daily transactions while the number of daily active addresses has decreased, indicating that the surge is driven by a smaller user base.
“Cardano is seeing tremendous growth in transaction volumes, yet it has not translated into increased network value,”.
One of the primary reasons behind the increased transaction volume is the rising activity on the decentralized exchanges (DEXs) operating on the Cardano network. Despite this, the Total Value Locked (TVL) has declined, presenting a paradox where heightened transaction activity hasn’t translated into increased network value.
