Logo
Cardano Ecosystem

BitcoinEthereumNews

01/18/2022

·

748 views


Cardano (ADA) flips Solana (SOL) by market cap to become the 5th cryptocurrency

The post Cardano (ADA) flips Solana (SOL) by market cap to become the 5th cryptocurrency appeared on BitcoinEthereumNews.com. This week, Cardano has been making major gains despite the rest of the coins reporting sluggish performances. Cardano (ADA/USD) now ranks...

Cardano (ADA) flips Solana (SOL) by market cap to become the 5th cryptocurrency

This week, Cardano has been making major gains despite the rest of the coins reporting sluggish performances. Cardano (ADA/USD) now ranks as the fifth-largest cryptocurrency with a market capitalization of around $50 billion, according to CoinMarketCap.

Cardano’s value has gained from $1.15 on January 11 to around $1.49 at the time of writing, reflecting a weekly gain of around 32%.

Cardano regains the fifth spot


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Following the price gains registered by Cardano, the token has managed to flip Solana’s market cap. Solana’s market cap currently stands at around $43 billion, making it the seventh-largest cryptocurrency.

Besides gaining in value, Cardano is also recording high transaction volumes. At one point, the transaction volume for Cardano surpassed that of Ethereum. However, this has since dropped, with ADA’s trading volumes standing at $5.07 billion at the time of writing.

ADA has not been spared from the recession recorded across the broader cryptocurrency market despite the gains made. At the time of writing, the token had dipped by around 3.2%. However, it has retained most of its weekly gains.

Several factors attributed to ADA’s rally

Cardano is among the network believed to be Ethereum killers. In September 2021, Cardano launched the Alonzo hard fork that brought smart contracts to Cardano. Some of the protocols that have announced plans to launch on the network include SundaeSwap, Ardana, CNFT.IO, Maladex and MELD.

One of the factors that could be triggering ADA’s rally is the recent announcement by SundaeSwap that it would be going love on Cardano’s mainnet.

“The moment we’ve all been waiting for has finally come! We’re excited and proud to share that SundaeSwap and the ISO will be launching on the evening of Thursday, January 20 (EST),” SundaeSwap said.

Cardano has also had its first venture into the metaverse. The metaverse is one of the hot spaces in the crypto spaces, and last week, Cardano announced plans to support the metaverse.

The Pavia project on Cardano will function similarly to Decentraland and The Sandbox. The project will commercialize virtual land and allow the holders of these lands to personalize their experiences and create their own virtual worlds.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,

eToro

10/10

67% of retail CFD accounts lose money

Source: https://invezz.com/news/2022/01/18/cardano-ada-flips-solana-sol-by-market-cap-to-become-the-5th-cryptocurrency/


YouTube video

Post navigation

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on BitcoinEthereumNews

ORIGINAL SOURCE

https://bitcoinethereumnews.com/economy/...

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.


Genius Yields DEX Launched!

More from BitcoinEthereumNews

See more
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com

03/15/2023

·

813 views

Related News

See more
Genius Yields DEX Launched!

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)