Large Transaction Volume (LTV) of Cardano (ADA) hits 50× this year

Cardano is now showing a bullish pattern because of the expected high amounts of institutional fund flow funds in the Cardano network. 

Cardano(ADA) is a 7th rank crypto asset by 24 hours trade volume and the ecosystem of Cardano is enjoying the influx of huge amounts of projects and funds inflow, thanks to the Alonzo Hardfork, which introduced the Smartcontract feature in the Cardano Blockchain network in September 2021. 

On 29 March, IntoTheBlock, a Crypto intelligence firm, notified the Cardano community that the number of large ADA transactions in the Cardano network increased by around 50× this year. 

Large Transaction Volume (LTV) refers to aggregated volume from transactions denominated and it is continuously increasing for Cardano’s ADA since the beginning of this year, despite huge corrections in the crypto market from January to February. 

From 1 January 2022 to this date, Cardano (ADA) transactions changed from 1.3 billion ADA tokens to 69 billion, which is really a big increment for the Cardano Blockchain and it is just beginning because Defi Protocols started to work on the Cardano Blockchain network since 3-4 months.

Cardano blockchain Network not only getting inflow of funds and big transactions activity in the network but also numbers of ADA wallet addresses is increasing. 

At the beginning of this year, there was a total of 3.4 million Ada addresses but now this number has been changed to 5 million, which is a pure indication that Cardano is getting institutional funds Inflow because increment in the number of addresses and transactions activities are not parallel. 

Just two days ago, Charles Hoskinson, founder of the Cardano project, shared his thoughts on Web3 during Binance Blockchain Week in Dubai. 

Charles said that we are stepping into Web3 but there is no leader for Web3 initiatives to figure out the proper decisions for the industry. 

Charles also noted the issues with the Web3 system under the rules and systems.

“If we’re truly decentralized, we have to somehow come together and figure this out. We have to write some sort of constitution for these things; we have to decide ‘What is the Bill of Rights for the use of cryptocurrency and blockchain technology?’”

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