In a recent tweet, the renowned crypto analytics organisation IntoTheBlock reports that the amount of on-chain transactions of Cardano (ADA) higher than $100k has surged by 50x in 2022 alone.
Large Transaction Volume (LTV) refers to aggregated volume from transactions denominated in Cardano’s ADA token worth more than $100K. Since January 1, the LTV has surged from 1.35 billion ADA each day to 69 billion ADA (valued at $81.4 billion), changing hands on the Cardano platform.
According to IntoTheBlock, this is a 51-fold rise in approximately three months and represents one of the greatest volume levels since mid-2018. It also noted that such large volumes suggest “increasing institutional demand.”
@Cardano is experiencing increasing institutional demand
The volume of on-chain transactions >$100k has increased by 50x just in 2022
Yesterday, a total of 69.09b $ADA were moved in these large transactions, representing 99% of the total on-chain volumehttps://t.co/8ME8STvRSF pic.twitter.com/aqH7hYIPiV
— IntoTheBlock (@intotheblock) March 29, 2022
Cardano is a blockchain platform supporting its native coin ADA and non-ADA native assets for worldwide payments. Cardano users can send and receive payments immediately and for very low costs. In addition, developers can design smart contracts and decentralised apps on this platform.
