The post Cardano (ADA) Skyrockets 270% in DEX Volumes in Impressive Quarterly Growth appeared on BitcoinEthereumNews.com.

According to Messari’s recent “State of Cardano Q4 2024” report, Cardano had significant growth in the last quarter. Cardano’s average daily DEX volume surged by 271% to $8.9 million in the fourth quarter. Cardano’s top DEXes were Minswap, WingRiders and SundaeSwap. DEX volume climbed by 40% year on year. ADA’s price surged 126% to highs of $0.84 in Q4, while its market capitalization increased 127% to $30.3 billion, with a minor difference due to a 2.2% drop in circulating supply. Due to the price increase, ADA’s circulating market cap position jumped from 11th to 9th in Q4. Meanwhile, fees in USD soared by 254% to $1.8 million, led by a 65% increase in average daily transactions to 71,500. Related DeFi TVL in USD rose by 94%, reaching $448.9 million. This was headed by Liqwid and Minswap, whose TVL increased by 141% and 69%, respectively. The market capitalization of stablecoins surged by 66% to $23.2 million, while iUSD remained the biggest stablecoin, with a $9.4 million value. Each Cardano transaction is accompanied by a network transaction charge to cover processing and storage costs. Fees are calculated by combining a minimum cost and a variable fee dependent on transaction size. Fees in ADA declined by only 60% QoQ to $2.2 million, while Fees in USD climbed 95% year on year, in line with price growth and transaction activity. Cardano sees transaction boom Cardano’s average daily transactions increased by 65% in the past quarter to 71,500, while average daily active addresses increased by 58% to 42,900. Related Cardano’s average transaction cost in USD increased by 80% to $0.23. However, the average transaction fee in ADA fell 2% to 0.34, indicating that the network managed a significant increase in transaction activity with little change in native costs. The ratio of transactions to active addresses…

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Filed under: News - @ February 18, 2025 9:23 pm