Institutions are coming to the Cardano network as the transaction volume increases massively
According to IntoTheBlock, Cardano has just faced institutional inflows into the network as the on-chain transaction volume increased 50 times, reaching 69 billion.
Cardano attracts more institutional investors
“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 volume”, IntoTheBlock reported.
Source: IntoTheBlock
The increased demand for the Cardano network is most likely tied to the overall growth of the network as its TVL exceeds $300 million, the total market cap crosses $40 billion, and the price hits a two-month high.
The number of significant transactions with volumes exceeding $100,000 has increased 50-fold. The total volume of coins removed on March 28 includes transactions as large as 99%. Such a rapid increase in institutional volume reflects the increased underlying value of the project. Since the beginning of the year, developers working on the Cardano network have been releasing and actively developing new use cases for the blockchain, like peer-to-peer exchanges and EVM-compatible Layer 2.
With the release of new solutions on-chain, Cardano becomes more suitable for institutional investments that often seek real value behind the project rather than speculative profits.
Similar to Ethereum’s path in the market, experts expect a rapid increase in the capitalization and number of users of Cardano. The theory talks about the rise in transaction volume, number of holders, and total value locked in various smart contracts.
Before that, Cardano’s TVL surpassed $300 million at around $100 million at the beginning of the month. Almost tripling is due to decentralized application releases like Minswap and others. ADA is up at least 50% YTD in terms of value and market capitalization.
Read more:
- Cardano Network Has Seen Significant Increase In Inflows Into Its Ecosystem
- Cardano Beats Largest Projects In The Industry As Its Marketcap Reached $40 Billion