As ADA rallies over 10%, Cardano is back in the top five, with a Sundae Swap upgrade expected this week

Bitcoinworld 4 months ago Report
Telegram LinkedIn

Cardano

Cardano’s native cryptocurrency ADA, which has been trading sideways for weeks. That, was back in action over the weekend, gaining more than 10% on Sunday, January 16. Cardano has re-entered the top-five crypto-list as a result of this.

At the time of publication, ADA was trading 9.10 percent higher at $1.47, with a market capitalization of $49.2 billion. Cardano’s current price increase comes after a rise in transaction activity. Then, and just ahead of the Sundae Swap later this week. According to Messari data, Cardano had the second-highest network activity, edging out Ethereum.

Another significant milestone is that between December 13 and January 13, 70 new smart contracts were launched on the Cardano blockchain.


After a strong start following the Alonzo upgrade in September 2021. Of course, Cardano’s smart contract launch faltered, resulting in a poor reputation. Cardano founder Charles Hoskinson explained the situation as follows:


“We had to rewrite the software three times; there were major changes in architecture and vendors.” “There were approaches taken that didn’t work out; there were, of course, delays”.
He went on to say that delays are a part of Cardano’s game. The debut of Sundae Swap, which will take place this week on Thursday, January 20, is one of the most significant updates to the Cardano network.


The Cardano Sundau Swap’s specifics

As previously stated, the Sundae Swap will be launched as a fully functional beta decentralized exchange on the blockchain later this week (DEX). The yield-farming for SUNDAE will commence soon after the launch. According to the official announcement:

“Yield farming will be available for at least the first six months of the SundaeSwap DEX, and during this period, LP tokens staked to yield farming contracts in eligible pools can earn additional SUNDAE rewards.”

This year, in 2022, the recent increase could result in prolonged price gains.

Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul

Advertisement

Original Source: https://bitcoinworld.co.in/as-ada-rallies-over-10-cardano-is-back-in-the-top-five-wit...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.

Join Our Weekly Newsletter of Cardano

Your weekly dose of Cardano news straight to your inbox!
Genius X is launching its Initial Stake Pool Offering (ISPO) Starting on May 15, 2022
Revolutionize the business accelerator experience and provide unparalleled support for ambitious crypto startups, Genius X is raising funds through a public ISPO and helping foster innovation in the Cardano ecosystem. CLICK HERE!
READ THE ORIGINAL ARTICLE ON >> Bitcoinworld