Cardano flips Ethereum in transaction volume as ADA price recovers swiftly


  • Cardano’s on-chain activity exploded on Friday, momentarily dominating Ethereum. 
  • Cardano was recently recognized as the “Best DeFi Project of the year” at the AIBC summit. 
  • Cardano founder Charles Hoskinson revealed his idea of the metaverse in a recent interview. 
  • Analysts expect Cardano price to recover from the drop below $2.

Cardano, the sixth-largest cryptocurrency, momentarily flipped Ethereum in daily transaction volume earlier on Friday. The altcoin price has plunged over 11% in the past week. 

Analysts are bullish on Cardano as it flips Ethereum

Cardano’s on-chain activity has exploded, with the daily transaction volume flipping the second-largest cryptocurrency momentarily on Friday. The altcoin was recently recognized as the best DeFi project at the AIBC gaming summit. 

Charles Hoskinson, the founder of Cardano, revealed his plans for Cardano and his idea of the metaverse. In a recent interview, Hoskinson said, 

You can either overlay digital attributes onto the physical world, such as when you look at a building like a restaurant, it shows you on your augmented reality glasses what time it opens and closes, or you can completely immerse yourself in the digital world and have a virtual reality experience.

Proponents expect Hoskinson’s idea for the metaverse to boost Cardano’s native token utility. 

Cardano has attracted massive institutional inflows, a total of $16.4 million over the past week based on data from CoinShares. Hoskinson believes that the 2022 roadmap for the Cardano network is coming together as network performance is optimized. 

Analysts are bullish on ADA as the launch of Hydra inches closer. Pseudonymous cryptocurrency analyst @Koolaid_crypto believes that Cardano price is at a prime spot for a bounce. 

FXStreet analysts have evaluated the ADA price trend and predicted a massive pump after a 9-week losing streak. ADA prices plunged when the overall crypto market capitalization dropped over the last week. Analysts expect ADA to recover from the drop and enter the second leg of the bull run. 

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement

Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.

More Cryptocurrencies News
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.

More Bitcoin News
Can Maker break $1,450 hurdle as whales launch buying spree?

Can Maker break $1,450 hurdle as whales launch buying spree?

Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.

More Maker News
Gold shines in Q1 while Bitcoin stumbles

Gold shines in Q1 while Bitcoin stumbles

Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.

More Bitcoin News
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP