The crypto market has witnessed an interesting trend in the past 30 days. While almost all the leading cryptocurrencies by market cap have seen declines in their trading volumes, two coins, namely Cardano (ADA) and Dogecoin (DOGE), have been able to buck the trend. Scott Melker, a prominent crypto trader and podcaster recently posted a screenshot demonstrating the rise in trading volumes of ADA and DOGE. The volume for Cardano’s native token has increased by 16%, and for Doge, it has surged by 42.72%.

One potential reason for the surge in trading volumes of Cardano may be the tremendous growth the network has seen in the past few months. Over 1,200 projects are now being built on Cardano, out of which 119 have already been released. This is due to the increasing number of development teams joining the Cardano ecosystem, introducing new solutions and applications. Moreover, a major upgrade, 'Hydra', is on the cards, to further enhance the operations of the blockchain-based protocol. Notably, it was also recently reported that large whales have added about 150 million ADA tokens to their bags, likely driving up the trading volumes.

We can relate the surge in trading volumes of Dogecoin to the recent events related to the coin. King Burger UK, a fast-food giant, was recently seen promoting Doge. This may have excited the Dogecoin community, leading them to believe that the company might be interested in Doge, and not just flirting with them for attention. This could have resulted in increased trading volumes for DOGE. True enough, the coin has generally increased in price by 13.6% over the last 7 days.

In conclusion, Cardano and Dogecoin have emerged as the two cryptocurrencies that have been able to record growth in their trading volumes despite the bearish trends in the crypto market. These growths can be attributed to the network expansion of Cardano, and the heightened activity related to Dogecoin.



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