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Cardano Outperforms Crypto Rivals Amid Scaling, Fee Momentum

  • Blockchain’s 24-hour transaction volume comparable to Ethereum
  • Development in DeFi, NFTs may be fueling gains: Luno’s Ayyar

Cardano’s ADA token has surged in the past week, even as the likes of Bitcoin and Ether traded sideways, amid some promising developments on its blockchain.

ADA has risen 30% in the past seven days, according to pricing from CoinGecko, while Bitcoin, Ether, Solana and XRP have advanced less than 5%. That comes as data from Messari show Cardano’s 24-hour transaction volume at $5.31 billion, compared with Ethereum’s $5.59 billion. But Cardano’s gas fees -- payments made by users to compensate for the computing energy required to process transactions -- were around $75,400 compared with the latter’s $44 million over that period.