The most recent data reveals that Cardano has experienced a daily high transaction volume of 27.5 billion ADA. However, the asset has faced a 7% decrease in value over the past week and is currently trading at $0.456188.
Despite struggling to increase in price, Cardano (ADA), the eighth largest cryptocurrency in terms of market capitalization, has achieved an impressive daily transaction volume. According to IntoTheBlock, the daily large transaction volume for Cardano has reached 27.59 billion ADA, surpassing the previous figure of 26.9 billion ADA. It is important to note that large transactions refer to those exceeding $100,000 and represent a significant amount of cryptocurrency being moved.
Nevertheless, ADA has experienced a 7% decline in value over the past 24 hours, with a trading price of $0.456188 at the time of writing. The overall market sentiment, influenced by a bearish trend, has resulted in a 14% drop in ADA’s value over the past week. Investors who recently entered the market have lost 25% of their initial investment within the last 30 days. However, those who have held their positions for three months have seen a positive return of 62%.
Other cryptocurrencies have also faced declines, with Bitcoin falling by 5% in the last 24 hours and trading at $38,976.52. Over the past week, Bitcoin has experienced a 9% decrease. Ethereum, another major cryptocurrency, has also seen a 7% decline in the last 24 hours, with a trading price of $2,212.31. Within the past seven days, Ethereum’s value has dropped by 12%.
Analysts predict that ADA may rebound and reach $1.00 by the end of the year. On average, ADA is expected to reach $1.14 or even trade at $1.28 before December 31.
The large transaction volume serves as an indicator of the total amount transacted by whales and institutional investors.
The Cardano Foundation has been actively working in collaboration with various partnership programs to expand the use cases and reach of Cardano. One notable partnership is with Petrobras, Brazil’s state-owned energy company. The Cardano Foundation recently conducted a blockchain education workshop for Petrobras employees.
Frederik Gregaard, CEO of the Cardano Foundation, commented on the partnership, stating that education plays a central role in their mission. The collaboration with Petrobras, a Fortune 500 company and one of the world’s largest public companies, highlights the growing interest in blockchain education from enterprises. The Cardano Foundation looks forward to exploring new use cases for blockchain technology through this partnership.
During the workshop, the potential and diverse use cases of blockchain technology were discussed. The Cardano Foundation conducted two workshops in the Metaverse as part of the partnership agreement.
Petrobras also expressed their enthusiasm for the partnership, emphasizing the importance of education in harnessing the power of blockchain for new use cases within the energy sector.
Recommended resources related to Cardano include a guide on how to buy Cardano, a tutorial on Cardano wallets, and a tool to check the 24-hour Cardano price.
For more Cardano news and information, visit the Cardano website.