The Cardano blockchain has experienced an explosion in on-chain activity and now trails only Bitcoin in current 24-hour transaction volume, surpassing Ethereum in the process according to Messari.

Cardano (ADA) currently has $17.04 billion in 24-hour transaction volume, according to data from on-chain analytics firm Messari. With Bitcoin (BTC) at $18.85 billion and Ethereum (ETH) at $5.25 billion according to Messari, Cardano is in second place in that category and is closing in on the top position for this metric.