Cardano's transaction fees hit a record high, still maintaining lower fees than Bitcoin and Ethereum
On May 28, Cardano network transaction fees hit a record high of $15.2K, the highest since Aug. 11, 2022, indicating increased network activity and demand. Just a month prior, on May 1, the fees were at a considerably lower level of $8.4K.
Despite these numbers, when compared to the transaction fees of Bitcoin and Ethereum, Cardano still claims the lowest transaction fees. Bitcoin, the largest cryptocurrency by market cap, recorded a transaction fee of $1.76 million in the last 24 hours, a stark contrast to Cardano's $15.2K.Ethereum, the second largest cryptocurrency and the leading smart contract platform, clocked even higher transaction fees, totaling $9.16 million. These numbers suggest that, despite Cardano's recent surge in fees, it still maintains an advantage in lower transaction costs.
The primary reason for the significant difference in transaction fees is due to the underlying technology of these platforms. Cardano was designed to handle a larger volume of transactions per second , which further reduces the cost per transaction.a significant 91% increase in its decentralized exchange volume over the past week, rising to $68.5 million. The surge is attributed primarily to increased activity on Cardano-based DEX platforms, especially Minswap, which accounted for 90.4% of the total DEX volume.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Cardano Network Blossoms as DeFi Volume Hits Enormous ValuesCardano TVL comes closer to pre-ATH values as the network blossoms after the meme coin rally
Baca lebih lajut »
Cardano's Hoskinson Shares His Take on Bitcoin OrdinalsIn recent YouTube Q&A session, Charles Hoskinson, founder of Cardano, suggested that Bitcoin Ordinals, latest innovation in industry, would find more conducive environment in Cardano ecosystem
Baca lebih lajut »
SNEK Cardano Meme Coin Surpasses 150 Million ADA Cap: Here's Why It's HistoricalSNEK becomes second most capitalized coin in the Cardano ecosystem cardano cardanoada cardanocommunity ada snek memecoin meme $ada $snek snekcoinada
Baca lebih lajut »
3 Million Cardano (ADA) Addresses in Losses, Here's What Indicators SuggestCardano (ADA) indicators signal change as three million addresses notch losses ADA $ADA CardanoADA CardanoCommunity
Baca lebih lajut »
Bitcoin transaction fee revenue soared this month thanks to OrdinalsBitcoin transaction fee revenue skyrocketed in May thanks to the growth in bitcoin NFTs.
Baca lebih lajut »
Litecoin's Daily Transaction Count Remains Elevated as LTC Ordinals Approach 4 Million – Bitcoin NewsSince May 2, 2023, the Litecoin (LTC) network has been witnessing an unprecedented surge in daily transactions.
Baca lebih lajut »