Up about 25% in the last week to Cardano (ADA) institutional demand is increasing.
Blockchain research firm IntoTheBlock In his post on his twitter account, of the ADA announced that its total on-chain volume has increased by 50 times to reach 69 billion dollars.
The company also stated that the transaction volumes in Cardano reached the highest level in 2022.
Saying that 99% of the transactions are made up of large transactions, IntoTheblock defined large transactions as transactions over $100,000.
These positive developments in IntoTheBlock sharing in Cardano stated that it caused a boom in corporate interest.
@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
Stating that there has been a similar volume increase in Bitcoin (BTC) as in Cardano, some experts said that they think that ADA may experience a similar price increase experienced in the leading cryptocurrency.
According to data from CoinMarketCap, Cardano ranks 7th with a market cap of approximately $40 billion and is trading at $1.22, a two-month high.
*Not investment advice.