Hoskinson points out that network activity for Cardano is second only to Bitcoin

Charles Hoskinson, Co-Founder, and CEO of Input Output Global (IOG), the organization responsible for Cardano’s research and development, examined 24-hour transaction volumes across various blockchains on Sunday (May 29).

Hoskinson sent out a statement that appeared to demonstrate that, according to Messari data, Cardano’s 24-hour transaction volume was $9.57 billion, placing it second only to Bitcoin and higher than Ethereum.

At the time of writing, the 24-hour transaction volumes for Bitcoin (BTC), Cardano (ADA), and Ethereum (ETH) are $10.32 billion, $9.24 billion, and $2.52 billion.

This must have been a happy occasion for Hoskinson, who must be sick of some Cardano critics calling it a “ghost chain” at various points in the past. One of the most recent examples of such attacks is as follows:

Mike Alfred, a Founding board member and first seed investor at Eaglebrook Advisors, a tech-driven investment manager specializing in Bitcoin and digital assets, is one of Cardano’s harshest critics. Alfred appears to enjoy trolling the Cardano community and has repeatedly stated that the Cardano network has virtually no traffic. Here’s an illustration:

It can be seen that Hoskinson’s belief is completely grounded when Cardano’s Vasil Hard Fork update in June is showing positive signals. At the time of writing, the price of ADA is increasing significantly compared to 24 hours ago, the record is up to 11.89%, a pretty good improvement compared to the market that is gradually becoming optimistic when Bitcoin is trading at $30,700 level.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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