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In 2024, Cardano (ADA) lost some market cap positions to growing competitors following poor price performance and increasing network apathy. Evidencing that, onchain data shows a decreasing transaction volume for Cardano as the network usage slows down. This news could suggest the network ’s native token, ADA, is overvalued . However, even the down-trending transaction volume is proportionally higher than Ethereum’s (ETH). Cardano (ADA) news: Transaction volume is going down Since March, Cardano’s daily transaction volume has made lower highs, consolidating a downtrend that suggests worsening fundamentals and economic value. Transaction volume is an important network value indicator that measures onchain activity and can influence the token’s demand. Picks for you If you invested $1,000 in Andrew Left's hed...

Record trading volumes on spot ETFs have been linked to profit-taking.  Bitcoin Dogs rides Bitcoin price trends cemented by its Web 3.0 utility. Over $7.7 million has been raised in Bitcoin Dogs presale. Record ETF trading volume s and BTC cooling off from its record price are two events keenly watched this week. The latest data shows the total trading volume on the 10 spot ETFs surpassed $10 billion. The record trading volume s highlight increased activity on Bitcoin. Nonetheless, buying trends are observed on Bitcoin Dogs , which saw more than $7.7 million in presale. With 9 days to the end of the presale, analysts expect Bitcoin Dogs price to skyrocket after listing. Record trading volumes spot ETF volumes vs. Bitcoin price It has been a busy week for Bitcoin after it reached its all-time high above $69,000. However, BTC price cooled off at this crucial market level. At the time of this publication, the world’s largest cryptocurrency had l...

Transaction volume on the Solana network crossed $1 trillion in January, a multi-year high. According to The Block’s dashboard, transaction volume is up 30% from December 2023, at $738.8 billion. Online transaction volume has hit a record high since September 2022, at $1.55 trillion. Source: The Block Experts note that the growth in blockchain activity is significantly higher than in 2023 and through much of 2022. For example, in September 2023, transaction volume on the Solana network reached a low of $40 billion. In January, the number of registered addresses on the Solana blockchain reached a multi-month high. This month, the number of new Solana addresses exceeded 10 million, the highest figure since May 2022, when the number of addresses was 11.72 million. In addition, the naive token Solana (SOL) has shown steady growth. Over the past week, the asset price has increased by about 12%. At the time of writing, the cryptocurrency is trading at around $98. ...

Pullix (PLX) continues to attract trader attention as its presale surpasses $3.8 million. Meanwhile, dYdX (DYDX), the native token of Cosmos-based decentralized exchange (DEX) platform dYdX Chain, has surged in the past week. This comes as dYdX flips Uniswap (UNI) to become the largest DEX by daily trading volume. As the market growth pushes the dYdX price higher, analysts say a new trading platform’s native token could be one of the best crypto to invest in today. This outlook comes as trader attention increasingly flips towards Pullix (PLX), a hybrid exchange project that’s currently in presale.  Here’s a look at dYdX’s milestone. Also find out why Pullix could be one of the top investment opportunities in 2024.     dYdX Chain: DYDX surges as volume flips Uniswap dYdX (DYDX) currently sits top of the ranking as the largest decentralized exchange ( DEX ) by trading volume . This is after the Cosmos-based dYdX surpasse...

Binance, one of the world’s leading crypto exchanges, has seen its average daily trading volume s plunge below $10 billion in recent weeks, a 60% decline from average s between $20-30 billion last year. The US is seeking $4bn from #Binance to end its case. Daily trade volume on the exchange has fallen to under $10bn/day, down from $20-30bn. pic.twitter.com/PwZaSHpJA2 — Kaiko (@KaikoData) November 20, 2023 The drop comes as Binance is under intense regulatory scrutiny and slapped with a $4 billion penalty from the U.S. Department of Justice (DOJ) as a settlement for all allegations involving violation of federal security laws. According to blockchain data analytics platform Kaiko, Binance facilitated most of its 2022 trading volumes by offering zero-fee transactions. The freewheeling model was halted early this year but has not prevented trading activity from contracting. Amid intense legal scrutiny from the U.S., volume s have been evaporating even without charges b...

Yuga Labs CEO Daniel Alegre said the firm was stretching itself thin by taking on too many projects, and will now focus on its core aims with a smaller team. Cutbacks at Yuga Labs Bored Ape Yacht Club creator Yuga Labs has announced a restructuring that has seen several roles “eliminated across the company.” The exact number of layoffs hasn't been specified, however, in an Oct. 6 blog post shared via X ( formerly Twitter), Yuga Labs CEO Daniel Alegre suggested the firm had taken on too many projects that were ultimately distracting it from its “core priorities.” Yuga Labs is announcing a restructuring that will better focus our team on our core priorities. While certain roles have been impacted, these changes are necessary to evolve as an organization. For more see a note written by @dalegre on our https://t.co/722YfqwaCB official blog. — Yuga Labs (@yugalabs) October 6, 2023 “I realized very quickly that there were a number of projects that, while well-intentioned, either spr...

OPNX exchange has quipped about its earlier low trading volume before experiencing a big surge in volume during the last 24 hours. Open Exchange (OPNX) has claimed to have experienced a massive surge in trading volume and has joked about its dismally low volume on its opening day. According to an April 10 tweet by OPNX, its day one trading volume on April 4 hit a total of $13.64 but has since apparently seen a surge to $12,398 on April 9, an increase of over 90,000%. We're thrilled to announce a significant increase in trading volume at OPNX! On day 1, our volume was a hard-fought $13.64. Today on day 5, it has surge d to a magnificent $12,398. That's a remarkable percentage increase of over 90,000%. We are incredibly proud of our team's hard… pic.twitter.com/0rG9F28xzl — OPNX (@OPNX_Official) April 10, 2023 However, new data suggests the trading volume has seen a far bigger increase during the last 24 hours. According to CoinGecko data, OPNX’s 24-hour trading v...