The Cardano network has witnessed some remarkable milestones this week, especially in terms of the volume of transactions. According to the latest data from IntoTheBlock, the volume of large transactions has surged above 30 billion ADA.
Even though it is not a major milestone for the network, the 30 billion ADA benchmark was already breached nine months ago, on May 31, 2022. However, it should also be noted that it is the volume and not the number of transactions that have increased. IntoTheBlock data also revealed that transactions greater than $100k have touched $11.18 billion at press time.
20% of Cardano holders in profit
The data also reveals some interesting figures regarding the profitability of ADA holders. At press time, only 20% of the holders are in profit. 4% of ADA holders are neutral, while 76% of ADA holders are at a loss. However, 49% of ADA holders are in it for the long term, and 43% for a duration of 1 to 12 months.
According to the data from CoinGecko, the cryptocurrency market has done relatively well in the past few days. The same goes for Cardano, as the coin is up 15% in the last seven days. ADA is also up by 1.4% in the last 24 hours and is trading at $0.351922.
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However, Cardano has a long way to go before it breaches its all-time high of $3.10 on September 2, 2021. The latest reports regarding Cardano development by the IOG revealed that a stake-based multi-signature scheme called Mithril is set to be launched soon on the mainnet. This could potentially help boost the price of ADA.
