Cardano’s daily NFT volume recently tapped a new milestone of over 4 million ADA reached on 24-hour volumes. The entire volume of NFTs exchanged in markets on any given day is gauged by a metric called “trading volume.”
The metric’s value has experienced a significant climb as ADA non-fungible token markets have seen a surge in activity, especially in the last few days. The trading volume was approximately 943 million ADA on October 14; by October 24, it had risen to a staggering 4 million ADA.
This is an increase of more than 320% in a rather short time. Additionally, the most recent 4 million ADA volumes were the largest ever seen in these markets.
Charles Hoskinson, the founder, used this opportunity to mock Ghost Chain Fudsters with the gif “Much Ghost Much Chain.” On past occasions, the IOHK head has continued to defend the PoS from critics who have likened it to a ghost chain- meaning little or no activity.
One such instance was the Cardano testnet being “catastrophically broken” and of course the return of “ghost chain” naysayers. Hoskinson accused social media influencers of spreading “misinformation” to large masses of people by social media influencers.
Cardano Vs Solana
In particular, he tweeted a link to a TikTok video of a man discussing Cardano and suggesting that people are beginning to lose faith in this blockchain. The person has over 600,000 followers. For a project with a market valuation as high as it does, according to The TikToker, Cardano “does not have anything to show for it.”
The influencer stated that although the Cardano team has a fantastic concept, nothing substantial has been built. He concluded by asserting that Solana is a “far more functional blockchain” and “a much more functional platform” than Cardano “has ever even come close to being.”
Hoskinson lamented on Twitter that people are disseminating false information to “massive networks of people” and that the “catastrophic bug” for Cardano that was recently described is now being paired with “ghost chain,” or the claims that were made against the platform earlier this year that nothing was being developed on it.