(IntoTheBlock) Transaction volumes of over $100,000 on the Cardano network have risen by 50 times this year, as institutions show more appetite.
On March 28, about 69.09 billion $ADA were reportedly moved in large transactions, reflecting about 99% of the total on-chain volume.
The rise in transaction volumes on Cardano coincides with a strong price surge, with the native token ADA gaining more than 22% in just seven days.
The recent gains saw Cardano hit a total market cap of $40.3 billion as of March 30. The market value is a jump of at least $8 billion in a single week.
Other cryptocurrencies, including Bitcoin, are also witnessing a surge in institutional inflows. Last week, the institutional inflows into BTC products hit $193 million, the highest in three months.
ADAUSD is up +0.09%.
