Why Cardano's ADA Is The Hottest Coin This Week

Cardano is among the top trending coins this week as it heads towards the upcoming Chang hard fork, As reported by TronWeekly, the smart contract platform is launching Node 9.0. a key upgrade that will usher the network into the Age of Voltaire. It is also making significant strides in the realm of smart contracts and NFTs [non-fungible tokens]. “ADA: Smart contract NFTs, comparison to Ethereum, growing Cardano network decentralization.”

Per Santiment, ADA has received massive traction for smart contract-enabled NFTs. Compared to traditional NFTs, these classes of digital collectibles offer more dynamic functionalities, enabling more complex and interactive virtual assets. This innovation positions Cardano as a formidable competitor to Ethereum in the burgeoning NFT market, which has seen explosive growth over the past year.

Additionally, Cardano’s proof-of-stake [PoS] consensus mechanism allows more nodes to join the network, enhancing its appeal to developers and users seeking a robust and scalable platform for their projects. With industry stakeholders closely following the developments, the successful implementation of Node 9.0 is set to herald a new era for Cardano and potentially influence the broader blockchain landscape.

Meanwhile, Bitcoin [BTC] is currently engulfed in a fierce battle between bulls and bears as it hovers around the critical $70,000 level. This significant price point has become a focal point for traders, with bulls aiming to push the cryptocurrency to new all-time highs while bears attempt to trigger a pullback. As of now, Bitcoin’s market capitalization stands at an impressive $1.377 trillion, drawing comparisons to tech giant Apple’s market cap of $2.998 trillion.

Cardano and Bitcoin

In the ETF realm, the dominant token has made some notable strides. Recently, market analyst Crypto Rover observed that spot Bitcoin ETF has recorded one of the best weekly performances. The expert gauged the high daily arrivals by splitting the week’s outcome and found out that the overall Inflow comes to roughly $1.9 billion.

We just had the best week on the Spot Bitcoin ETF. Monday: +$105.1 million Tuesday: +$886.6 million Wednesday: +$488.1 million Thursday: +$217.7 million Friday: +$131 million Total inflow on the week: +$1,828,500,000. How could you be bearish now?

With both BTC and ADA making significant advancements, the future of digital assets looks promising and filled with potential.