As a researcher with over a decade of experience in the cryptocurrency space, I must admit that the current state of Solana versus Cardano is quite intriguing. I remember when these two were often compared as potential ‘Ethereum killers.’ However, it seems like Solana has taken a significant lead in terms of user adoption and activity.
Based on the data from the cryptocurrency analysis platform Artemis, it appears that Solana is significantly outpacing Cardano when it comes to user adoption.
In fact, the former has 126 times as many daily active actresses as Cardano.
These chains, which were initially touted as strong competitors capable of dethroning Ethereum, are now functioning differently.
On September 7th, Solana saw a daily activity of 4.6 million unique addresses. In contrast, Cardano’s activity is significantly lower with only 31,700 active addresses on the same day.
Indeed, Solana surpasses Cardano in numerous areas as well. For instance, on September 7th alone, it processed a significant number of transactions, totaling approximately 35 million, whereas Cardano only handled about 53,400.
Additionally, it’s worth noting that when comparing with other platforms, Cardano falls short regarding Total Value Locked (TVL) and Decentralized Exchange (DEX) trading volume.
According to U.Today’s report, there has been a notable increase in Cardano’s trading volume. Such an uptick might hint at a potential rise in its price in the near future.
That said, the blockchain’s fundamentals remain extremely poor despite the recently successful launch of the Chang hard fork, which brings decentralized governance to the network.
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2024-09-09 12:00