'Institutional demand': Large transactions on Cardano up 50X in 2022

'Institutional demand': Large transactions on Cardano up 50X in 2022

Crypto intelligence firm IntoTheBlock reports that the number of large transactions on the Cardano blockchain has increased by more than 50X this year. 

Large Transaction Volume (LTV) refers to aggregated volume from transactions denominated in Cardano’s native ADA token valued at more than $100,000. Since Jan. 1, LTV has increased from 1.35 billion ADA per day to 69 billion ADA (worth $81.4 billion) changing hands on Cardano on Mar. 28.

Our top trading bots

That’s a 51-fold increase in about three months and marks one of the highest volume levels since mid-2018, according to IntoTheBlock. In a Mar. 29 tweet, the firm said that such high volume indicates “increasing institutional demand.”

While other metrics such as average transaction size and volatility remain relatively stagnant according to the data analytics firm, total addresses have been increasing since the start of 2022. The year began with about 3.4 million addresses, which has now grown to 5 million. While only seven DApps appear on DeFi Llama currently, co-founder Charles Hoskinson said many more are expected following due to a hard fork expected mid year.

Total value locked (TVL) is currently at $303 million according to DeFi app tracker DeFiLlama, just shy of the $326 million all-time high set on Mar. 24.

Hoskinson gave a rousing keynote speech at Binance Blockchain Week in Dubai on Monday in which he spoke of the need for decentralization and the difficulties in coordination it entails. He said that “we are entering a new era,” with Web3 but the problem is that “unlike with Web2, there’s no leader” to make decisions for the industry.

“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?’”

Related: ETF provider WisdomTree launches Solana, Cardano, Polkadot ETPs

“There are two paths before us — one, we keep our integrity and we look to decentralization, find these things, understand these things,” he said. “Or, two, we ignore it. In which case we’ll have custodians, we’ll have escort keys, highly centralized, highly optimized consensus algorithms that can be reset at any time. The few will be in control of the many.

“This is the decision, and I don’t make that decision — all of you do.”
Continue reading about Cointelegraph
Gaming industry to have a 'blockchain-connected' future, studio execs say
With blockchain slowly finding its way into the video gaming industry, sector veterans and executives of nonfungible token (NFT) blockchain WAX believe...
New research expects a gloomy year for Bitcoin as DeFi and DAOs rise
Another major player in the cryptocurrency world is forecasting a dismal year for Bitcoin (BTC) in 2022. Following the United States Federal Reserve’s and...
Price analysis 12/22: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE
Bitcoin (BTC) is attempting to break above the psychologically critical level at $50,000 and close the year on a strong note. The up-move in Bitcoin has...
Nifty News: Pepsi’s debut drop, 1inch expands P4 Metaverse and Tom Brady gifts NFTs
Cointelegraph has had a lot of NFT related news this week from pop culture to sports and gaming. Below is a roundup of stories you don't want to miss. Pepsi...
The Giving Block launches 15 new funds to direct crypto donations by cause
Cryptocurrency charity platform The Giving Block has announced the launch of 15 new 'Cause Funds' to better direct donations to charities with similar goals...
SEBA Bank granted the first Swiss digital asset custody license
SEBA Bank AG,a fully regulated Swiss-based institution with a focus on the offering of digital cryptocurrency assets, has today announced the approval of...
Republic of Panama introduces bill for regulating crypto
Amid Bitcoin (BTC) becoming legal tender in El Salvador, another country in Central America is progressing on its way to enable freedom to use cryptocurrencies...
Top-five UK university joins Hedera governing council
The London School of Economics and Political Science (LSE) has officially joined Hedera Hashgraph’s panoply of 39 global governing council members, confirming...
New bill proposes US Treasury to have full authority over fiat stablecoins
A new bill introduced by United States House Democrat Don Beyer of Virginia has proposed a far-reaching regulatory and legal framework for digital assets...
China shuts down crypto mining in Anhui province
The Chinese government continues cracking down on the cryptocurrency mining industry by suspending crypto mining operations in another province.Authorities...
Litecoin Climbs 15% In Rally
Investing.com - Litecoin was trading at $179.656 by 05:53 (09:53 GMT) on the Investing.com Index on Tuesday, up 14.69% on the day. It was the largest one-day...
2 reasons why Casper (CSPR) IOU token rallied 2,300% in one week
Bull market cycles in the cryptocurrency market can be exhilarating for day traders and long-term investors alike, but the speed at which the prices move...
Tesla's landlord accepts crypto; will Elon Musk pay rent in Bitcoin?
After becoming a corporate pioneer in cryptocurrency adoption, Elon Musk could be about to take the next step and begin paying rent in Bitcoin (BTC).While...
UK’s Royal Coins Producer Launches Own ‘Bitcoin’, Backed by Gold
In a plethora of countries bitcoin and its brethren have been taken with a pinch of salt both by regulators and institutional investors, e.g., in China,...
Crypto-Bubble Session To Be Held in Davos For The First Time: Concerns
This week, for the first time ever the World Economic Forum in Davos (Switzerland) is holding a session “The Crypto-Asset Bubble”. Scheduled for 17:00...