Surging Transaction Volumes Drive Double-Digit Gains for Cardano
Among the top movers in the cryptocurrency market today is popular proof-of-stake project Cardano (CRYPTO: ADA). As of 12:30 p.m. ET, this top 10 token by market capitalization had surged 10.1% higher, as investors price in impressive activity data across the Cardano network.
According to recent on-chain data tracking decentralized applications on Cardano, significant spikes have been seen in transaction volumes among a number of lending, gaming, marketplace, and non-fungible token (NFT) applications. Volume increases of more than 90% were seen in Cardano's top five best-performing decentralized applications over the past five days.
Surging interest in Layer 1 networks such as Cardano that support decentralized applications is clearly taking hold in the new year. Interest in NFTs has taken off with the recent airdrop of Bonk, which has positively affected rival Solana as well. That said, it's a rising tide lifting most boats in the crypto world today.
Source Fool.com
