Over the years, the Cardano ecosystem has differentiated itself from its peers by taking a more rigorous approach to implementing new features. The seventh largest coin by market cap has suffered another 2% correction in the past 24 hours, pushing the price towards the $1.04 level. Interestingly, analysts and even some developers are starting to question Cardano’s roadmap.

Source: Trade View

“I didn’t expect anything”

Chris Burniske, a partner at crypto-focused venture capital firm Placeholder, is one of them. Brothers phone call Cardano is a “vaporware” (project so delayed it will never launch) to answer the question why the price of ADA doesn’t seem to increase. According to Chris, the project promises more than they can deliver.

Burniske has long been a critic of the Cardano blockchain. Last year he cited Cardano as an example of a project keeping the hype going. Even if the criticism still prevails, there are many reasons to be optimistic.

Positive signs

Cryptocurrency data aggregator Messari.io is showing a positive sign for Cardano compared to its peers.

According to the data, ADA is outperforming BTC and ETH in terms of most trading activity (adjusted trading volume over the last 24 hours).

The source: Messari

Through the trading behavior, ADA adjusted a trading volume of $17.15 billion. Beat BTC and ETH at $15.1 billion and $8.6 billion, respectively.

The adjusted trading volume gives more information about the trading volume. It’s a way to fairly compare UTXO and account-based transactions.

This is the first time Cardano has surpassed Bitcoin’s adjusted transaction volume. This signals bullish signals. Other indicators also paint a similar picture.

According to Messari, Cardano users paid just $51,985 in transaction fees over the past 24 hours, compared to $0.51 million and $19.39 million for Bitcoin and Ethereum, respectively. This marks an important milestone.

#Cardanois ranked #1 for most transaction activity (adjusted volume over the last 24 hours) It has overtaken #BTC and #Ether. Adjusted transaction volume is a way to isolate only meaningful transactions and fairly compare utxo and account models. Check out the fees. ????https://t.co/nm5fOb2L5O

— Ed n’ ltcoins (@EdnStuff) February 13, 2022

“Cardano is #1 for most trading activity (adjusted 24-hour volume). It outperformed BTC and ETH. The Adjusted Volume is a way to only consider meaningful transactions and to fairly compare the UTXO model and the account. Watch out for the fees.”

Especially the latest data shows The average transaction fee is $0.44 (as of February 14). Meanwhile, transaction volume on the network surged after the Plutus script and metadata transactions took over the blockchain.

Many even consider this flagship network “undervalued” due to ADA’s price action. However, the ecosystem has grown tremendously over the years.

 The source: Built on Cardano

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