Cardano’s transaction volume has surpassed Bitcoin, Ethereum and every other crypto over the last 24 hours. According to data, Cardano’s daily transaction volume at one point within the last 24 hours was at the $70B mark. If you look at Cardano’s market cap, it’s nowhere near $70B. That means, so many people are doubling down on Cardano already buying and selling it.
according to data right now, is that it’s right at $43B. It’s still above that of bitcoin, Ethereum, XRP and every single other crypto. It is beating right now in terms of 24 hour transaction volume. This just means that a lot of people are using Cardano, a lot of people are buying Cardano, a lot of people are getting into it.
Cardano Price Analysis
Looking at the charts for Cardano right now what we’re seeing is that Cardano has officially broken back above the $1 per coin resistance. This is a very key level for Cardano because over the last year you can see this blue line right here, ever since early 2021.
Cardano’s price has consistently bounced off of this support. You can see all throughout 2021 even into early 2022, we bounced off of this support. This is the first time that we have been able to break back above this resistance. And we are seeing already a big push in Cardano’s price higher.
We’re seeing that right now Cardano is up over 10% over the last 24 hours. It is the best performing crypto over the last 24 hours and this has a lot to do with whales who bought into Cardano at $1 per coin, a lot of big accounts, a lot of people owning Cardano have bought in around that $1 per coin range.
Now that we’ve broken above this resistance, we’re expecting it to very quickly go back up to this $1.60 per coin resistance. So keep an eye out on this but Cardano’s looking much better, overall crypto market is looking really good.