--- title: "Ethereum vs Cardano Statistics 2026: TVL, Fees, Staking" date: 2026-01-13 author: "Barry Elad" featured_image: "https://sqmagazine.co.uk/wp-content/uploads/2026/01/ethereum-vs-cardano-statistics.jpg" categories: - name: "Cryptocurrency" url: "/crypto.md" tags: - name: "Statistics" url: "/tag/statistics.md" --- # Ethereum vs Cardano Statistics 2026: TVL, Fees, Staking Ethereum carries a market capitalization of **$262.94 billion** against Cardano’s **$9.38 billion** as of May 2026, a roughly **28x** lead at the top line that widens further once on-chain activity is measured. The gap between Ethereum and Cardano is not symmetric across every dimension, though. The comparison narrows on stakeholder participation and inverts on supply policy. ## Key Takeaways - [Ethereum](https://sqmagazine.co.uk/ethereum-statistics/)‘s market cap of **$262.94 billion** stands at roughly **28x** Cardano’s **$9.38 billion** as of May 2026. - DeFi total value locked on Ethereum reached **$44.23 billion**, outpacing Cardano’s **$132.14 million** by roughly **335x**. - [Cardano](https://sqmagazine.co.uk/cardano-ada-statistics/) leads on staking participation, with an active stake of approximately 21.64 billion ADA representing roughly roughly **58.4%** of the circulating supply, versus Ethereum at approximately 28% of the circulating ETH staked. - Ethereum has burned approximately **4.63 million ETH** since EIP-1559 was activated in August 2021, worth approximately **$13.10 billion** at the time of measurement. - Cardano runs a hard cap of **45 billion ADA** maximum supply, against Ethereum’s open-ended schedule at **120.69 million ETH** circulating. - Daily fee revenue on Ethereum reached **$7.25 million** against Cardano’s **$4,941**, a roughly **1466x** spread. - Ethereum hosts **1,749 DeFi protocols** against Cardano’s **82 DeFi protocols**, a roughly **21x** ecosystem-density gap. ## Editor’s Choice - Ethereum reached an all-time high of **$4,946.05** on August 24, 2025, per CoinGecko exchange data. - Cardano’s all-time high of **$3.09** on September 2, 2021, still stands more than four years later. - The combined chain TVL totals roughly **$44.37 billion,** with Ethereum holding roughly roughly **99.7%** of it. - Per Ultrasound.money on-chain data, approximately **33.28 million ETH** sits in Ethereum’s consensus layer, distributed across approximately **1.04 million** validators. - Cardano’s active stake reached approximately **21.64 billion ADA** in epoch 631, distributed across the chain’s stake pools. - Ethereum gas prices fell to approximately **0.19 gwei** for a standard transfer as of May 17, 2026. - Cardano processed roughly **115,837 transactions** across epoch 630 (a roughly five-day window). ## Recent Developments - **May 2026**: Cardano entered epoch 631 in the Conway governance era, with approximately **21.64 billion ADA** active stake. - **May 2026**: Ethereum’s trailing 30-day burn totaled approximately **4,998 ETH** (worth approximately **$11.57 million**), extending the post-EIP-1559 deflationary trend. - **May 2026**: Ethereum gas prices sit near approximately **0.19 gwei**, putting a standard transfer cost below one cent at prevailing block utilization. - **August 2025**: Ethereum touched its all-time high of **$4,946.05** on August 24, 2025. - **2024-2025**: Cardano completed the Chang hard fork and entered the Conway era, activating on-chain governance with Delegated Representatives. ## Market Capitalization Comparison Ethereum sits at rank **2** by market capitalization with a valuation of **$262.94 billion**, while Cardano sits at rank **14** with a valuation of **$9.38 billion**. The ratio of roughly **28x** reflects both Ethereum’s far larger circulating supply value and its position as the dominant smart-contract platform. The current 28x mcap ratio represents the highest spread between the two platforms since 2020. MetricEthereum (ETH)Cardano (ADA)Market cap$262.94 billion$9.38 billionMarket cap rank\#2\#14Price$2,178.96$0.25375324h volume$6.75 billion$213.75 millionCirculating supply120.69 million ETH36.99 billion ADAAll-time high$4,946.05 (Aug 24, 2025)$3.09 (Sep 2, 2021)Source: CoinGecko ### Will Cardano overtake Ethereum? The market-cap gap as of May 2026 stands at roughly **28x** in Ethereum’s favor. For Cardano to close the gap purely on its own price, ADA would need to roughly 28-fold from $0.25 while ETH held flat. The 2021 peak was the closest call, with the ratio touching roughly 18x at its tightest. ## Price History and All-Time Highs Ethereum’s all-time high of **$4,946.05** on August 24, 2025, surpassed the prior November 2021 peak, marking the first new ATH in nearly four years. Cardano’s all-time high of $3.09 dates to September 2, 2021, and has not been retested since. The divergence in ATH timing matters: Ethereum reset during 2025 institutional inflows, while Cardano’s high preceded the launch of Plutus smart contracts. MetricEthereumCardanoAll-time high$4,946.05$3.09ATH dateAugust 24, 2025September 2, 2021Genesis / mainnetJuly 30, 2015September 27, 2017All-time low$0.4330$0.01925ATL dateOctober 20, 2015March 13, 2020Source: CoinGecko, Ethereum Foundation, Cardano Foundation ## Token Supply and Issuance Schedule Ethereum’s circulating supply sits at **120.69 million** ETH with no maximum supply cap, relying instead on EIP-1559’s base-fee burn to offset issuance. Cardano runs a hard ceiling of **45 billion** ADA, with 36.21 billion ADA currently circulating, roughly **80.5%** of the maximum supply already issued. Since EIP-1559 was activated in August 2021, Ethereum has burned **4.63 million ETH** worth approximately **$13.10 billion**. Of that, approximately **2.01 million ETH** was burned after The Merge in September 2022, the period during which Ethereum has been net-deflationary in many windows. - Ethereum’s circulating supply stands at **120.69 million ETH** with no hard maximum supply cap, using EIP-1559 base-fee burns to offset issuance. - Cardano runs a hard ceiling of **45 billion ADA**, with roughly **80.5%** of the maximum supply already in circulation. - Since August 2021, Ethereum has burned **4.63 million ETH** (approximately **$13.10 billion**) under EIP-1559. - Approximately **2.01 million ETH** of the total was burned after The Merge in September 2022. Supply metricEthereumCardanoCirculating supply120.69 million ETH36.21 billion ADATotal / max supplyNo cap45 billion ADATreasury balancen/a1.64 billion ADAReserves remainingn/a6.37 billion ADABurn / deflation mechanismEIP-1559 base fee burn (since Aug 2021)None (capped supply)Burned since launch of mechanism4.63 million ETH ($13.10 billion)n/aSource: CoinGecko, Koios Cardano API, Ultrasound.money > **By the numbers:** Per Ultrasound.money on-chain data, Ethereum has burned approximately **4.63 million ETH** worth approximately **$13.10 billion** since the London hard fork activated EIP-1559 in August 2021. The trailing 30-day burn alone reached approximately **4,998 ETH**. The deflationary mechanism remains active even at the May 2026 low-gas environment. ## DeFi Total Value Locked Ethereum’s DeFi total value locked sits at **$44.23 billion** versus Cardano’s **$132.14 million**, a roughly **335x** spread. The gap reflects Ethereum’s dominance in liquid-staking, restaking, lending, and CDP categories, none of which have Cardano-native analogues at meaningful scale. The TVL gap is structural: Lido alone holds more than 145x Cardano’s entire DeFi TVL, a position Cardano has not replicated at a meaningful scale. - Ethereum’s DeFi TVL stands at **$44.23 billion** versus Cardano’s **$132.14 million**, a roughly **335x** spread. - Lido alone holds **$19.35 billion** in liquid-staked ETH, exceeding Cardano’s entire DeFi TVL by over **145x**. - Ethereum leads across liquid-staking, restaking, lending, and CDP categories that Cardano has not replicated at a meaningful scale. ![Ethereum vs Cardano TVL Comparison](https://sqmagazine.co.uk/wp-content/uploads/2026/05/ethereum-vs-cardano-tvl-comparison.jpg "Ethereum vs Cardano TVL Comparison") ### What’s the TVL gap between Ethereum and Cardano? Ethereum’s TVL of **$44.23 billion** is roughly **335x** larger than Cardano’s **$132.14 million**. Lido’s $19.35 billion in liquid-staked ETH alone is larger than Cardano’s entire DeFi ecosystem by a factor of more than 145, illustrating how concentrated the gap is in liquid-staking and restaking primitives. ## Daily Transaction Activity Cardano processed roughly **115,837 transactions** across the roughly five-day window of epoch 630, averaging approximately **23,167 transactions per day**. Epoch 629 saw **126,341 transactions** over a similar window. Ethereum’s daily transaction count consistently runs above 1.2 million on the base layer, with L2 rollups handling more on top. Activity metric (epoch 630 for Cardano, recent average for Ethereum)EthereumCardanoDaily transactions (approximate)1.2 million+23,167Block time (slot)~12 seconds20 secondsApproximate blocks per day~7,200~4,200Latest block / epochBlock 25,116,390Epoch 631Source: Etherscan, Koios Cardano API ## Transaction Fees and Network Revenue Daily fee revenue on Ethereum reached **$7.25 million** against Cardano’s **$4,941**, a roughly **1466x** ratio that exceeds both the market-cap ratio (28x) and the TVL ratio (335x). Annualized fee revenue runs at **$5.83 billion** for Ethereum and **$8.72 million** for Cardano. All-time fee revenue accumulated to **$46.67 billion** on Ethereum and **$44.59 million** on Cardano. > **Key finding:** Per DefiLlama’s aggregated fee data, the 1,466x daily fee-revenue spread between Ethereum and Cardano is the widest single-metric gap in the head-to-head comparison. Fee revenue is the strongest signal of economic activity, it scales with both transaction volume and willingness-to-pay, and the gap implies Ethereum’s lead in usage is sharper than market-cap data alone suggests. ![Ethereum vs Cardano Fee Revenue Comparison](https://sqmagazine.co.uk/wp-content/uploads/2026/05/ethereum-vs-cardano-fee-revenue-comparison.jpg "Ethereum vs Cardano Fee Revenue Comparison") ### How does Cardano compare to Ethereum on transaction fees? Cardano’s per-transaction fee design uses a flat base of roughly 0.17 ADA plus a marginal cost per byte, making typical Cardano transactions cost cents in USD. Ethereum’s EIP-1559 base fee plus priority tip pricing produced a current rate of approximately **0.19 gwei** for a standard transfer as of May 17, 2026, putting a 21,000-gas ETH transfer well below one cent in USD. At normal block utilization, both chains deliver sub-cent-USD fees for simple transactions; the aggregate fee-revenue gap reflects transaction volume, not per-transaction cost. ## Staking Participation and Rewards Cardano’s active stake reached approximately **21.64 billion ADA** in epoch 631, representing roughly roughly **58.4%** of the circulating supply. Ethereum’s consensus layer holds approximately **33.28 million ETH** across approximately **1.04 million validators**, roughly approximately **27.6%** of circulating ETH. The staking participation comparison is the rare metric where Cardano leads decisively. See the broader [crypto security](https://sqmagazine.co.uk/cybersecurity-in-cryptocurrency-statistics/) data tracking these custody-and-staking attack surfaces across chains. The gap reflects fundamentally different staking designs. Cardano allows any ADA holder to delegate to a stake pool with no minimum and no lock-up. Ethereum requires 32 ETH per validator or routing through a liquid-staking provider that locks the underlying ETH. At **$2,178.96** per ETH, the **33.28 million** ETH staked is worth roughly **$72.5 billion**, versus roughly **$5.49 billion** in Cardano stake. - Cardano’s active stake reached approximately **21.64 billion ADA** in epoch 631, representing roughly **58.4%** of the circulating supply. - Ethereum’s consensus layer holds approximately **33.28 million ETH** across approximately **1.04 million validators**, roughly **27.6%** of circulating ETH. - At May 2026 prices, Ethereum’s staked ETH is worth roughly **$72.5 billion** versus roughly **$5.49 billion** in Cardano stake. - Cardano requires no minimum to delegate; Ethereum solo validators require **32 ETH** per validator key. Staking metricEthereumCardanoStaked supply33.28 million ETH21.64 billion ADA% of circulating~28%58.4%Staked dollar value (May 2026)~$72.5 billion~$5.49 billionMinimum to stake (solo)32 ETH per validatorNone (delegation)Number of validators / pools~1.04 million validators~3,000+ active stake poolsConsensusGasper (Casper FFG + LMD GHOST)Ouroboros PraosSource: Ultrasound.money, Koios Cardano API, Ethereum Foundation, Cardano Foundation ### Is Cardano better than Ethereum for staking? Cardano leads on participation rate (roughly **58.4%** of circulating supply staked) and accessibility (no minimum, no lock-up, no slashing in the default delegation flow). Ethereum leads on absolute staked value, roughly **$72.5 billion** versus Cardano’s roughly **$5.49 billion**, plus yield-bearing primitives like liquid-staking and restaking. The right choice depends on whether the user prioritises participation simplicity or composable yield strategies. ## Validator and Delegation Models Ethereum’s validator design requires **32 ETH per validator** (worth roughly $69,727 at May 2026 prices), with the operator running consensus and execution clients. Solo-staker minority and liquid-staking concentration in Lido and centralized-exchange staking pools are the dominant participation paths. Cardano’s delegation model has no minimum stake; any ADA holder can delegate to a stake-pool operator, who runs the infrastructure and earns rewards distributed pro rata. Model dimensionEthereumCardanoStaking designValidator-operator (32 ETH min)Delegation (no min)Slashing riskYes (consensus violations)No (in default delegation)Lock-upVariable (recently ~1-day withdrawal)NoneIndependent operatorsSubset of ~1.04 million validators~3,000+ pool operatorsLiquid-staking shareLido + CEX-staking dominantLiquid ADA staking products emergingSource: Ethereum Foundation, Cardano Foundation, Ultrasound.money ### Does Cardano have more validators than Ethereum? Ethereum runs approximately **1.04 million validators** holding 32 ETH each in the consensus layer, while Cardano operates through stake-pool operators (typically 3,000+ active pools) plus the delegators behind each pool. The two figures measure different things: Ethereum counts validator keys (many operators run multiple), while Cardano counts pools (each backed by many delegators). ## DeFi Ecosystem and Protocol Counts Ethereum hosts **1,749** DeFi protocols across categories that include liquid staking, lending, restaking, decentralized exchanges, derivatives, real-world assets, and structured products. Cardano hosts **82** DeFi protocols, concentrated in DEXs, lending, and recently, real-world assets and indexes. The roughly 21x protocol-count spread captures ecosystem maturity in a way single-metric TVL or fee revenue cannot; the breadth of DeFi categories on Ethereum reflects more than a decade of developer accumulation. ![Ethereum vs Cardano DeFi Ecosystem Comparison](https://sqmagazine.co.uk/wp-content/uploads/2026/05/ethereum-vs-cardano-defi-ecosystem-comparison.jpg "Ethereum vs Cardano DeFi Ecosystem Comparison") ## Smart Contract Platforms and Languages Ethereum’s smart-contract platform is the EVM with Solidity as the smart contract language and an account-based state model. Cardano uses Plutus (a Haskell-derived language) and the newer Aiken language, running on the extended UTxO (eUTxO) model. The two execution environments target very different developer pools. Solidity remains the most-used smart-contract language across the [blockchains](https://sqmagazine.co.uk/blockchain-statistics/), while Plutus and Aiken are tightly scoped to Cardano-native contract development. Ethereum’s deployment density reaches **1,749** DeFi protocols versus **82** on Cardano. Smart-contract layerEthereumCardanoExecution environmentEVMPlutus / AikenPrimary languageSolidityPlutus / Aiken (Haskell-derived)State modelAccount-basedExtended UTxO (eUTxO)ComposabilityNative (atomic on-chain)Native within eUTxO constraintsContract-deployment densityVery high (1,749 DeFi protocols)Lower (82 DeFi protocols)Source: Ethereum Foundation, Cardano Foundation ## Consensus and Block Production Ethereum runs Gasper consensus (Casper FFG finality plus LMD GHOST fork choice) since The Merge on September 15, 2022, with a **12-second slot time**. Cardano runs Ouroboros Praos with a 20-second slot and an active-slot coefficient of 0.05, meaning one slot in 20 produces a block on average, yielding approximately **4,200 blocks per day** across each five-day epoch. Consensus dimensionEthereumCardanoAlgorithmGasper (PoS)Ouroboros Praos (PoS)Slot time12 seconds20 secondsBlock production rate~7,200 blocks/day~4,200 blocks/dayActive slot coefficientn/a0.05PoS sinceSeptember 2022 (The Merge)September 2017 (genesis)FinalityProbabilistic + Casper FFGProbabilistic (settlement)Source: Ethereum Foundation, Cardano Foundation, Koios Cardano API ### Is Cardano faster than Ethereum? Cardano’s 20-second slot time is roughly **1.7x** slower than Ethereum’s 12-second slot, so on the base layer, Ethereum produces blocks more frequently. Throughput comparisons get more complex once Ethereum Layer-2 rollups and Cardano’s Hydra Layer-2 are included. ## Governance and Recent Upgrades Cardano entered the Conway governance era after the Chang hard fork, activating on-chain governance via DReps who vote on protocol changes. Epoch 631 (May 2026) currently records **510 million ADA in DRep deposits**, reflecting the new governance layer’s activation. Ethereum completed the Pectra upgrade in 2025, adding account-abstraction primitives and validator-side improvements; the next major scheduled upgrade is Fusaka. > **Why it matters:** Per Cardano Foundation and Ethereum Foundation roadmap data, both chains have shifted governance and upgrade mechanics in the past 12 months. Cardano’s Conway era hands protocol-change authority to on-chain DReps voted in by ADA stakers, while Ethereum’s Pectra and upcoming Fusaka upgrades extend account abstraction and rollup-supporting features, different routes to long-term protocol evolution. Governance dimensionEthereumCardanoLatest upgradePectra (2025)Chang → Conway (2024-2025)Governance modelEIP-based, ACDC client coordinationOn-chain DRep voting (Conway era)Treasury balancen/a (no on-chain treasury)1.64 billion ADANext planned upgradeFusakaVoltaire (governance refinement)Source: Ethereum Foundation, Cardano Foundation, Koios Cardano API ## Conclusion Ethereum’s **$262.94 billion** market cap and Cardano’s **$9.38 billion** frame a head-to-head that is decided by usage metrics rather than valuation alone. The roughly **28x** market-cap lead widens to **335x** on DeFi TVL and **1466x** on daily fee revenue, but inverts on staking participation, where Cardano’s **58.4%** of circulating supply staked beats Ethereum’s roughly **28%** by a clear margin. Ethereum’s burn mechanism has erased approximately **4.63 million ETH** from supply since EIP-1559, while Cardano runs toward its **45 billion ADA** hard cap on a fixed schedule, with different monetary policies producing different long-run scarcity curves. For DeFi users and restakers, Ethereum’s protocol density is decisive. For passive yield seekers focused on participation simplicity and Conway-era governance, Cardano offers a different value proposition that the headline mcap ratio understates.