Bitcoin and many other altcoins are in the downtrend. But there is one altcoin in the top 100 that is posting strong gains. Cardano is the only altcoin in the top 100 that is taking the market by storm today. Cardano-based DEX has announced its mainnet launch date. The ADA price jumped more than 10% on this news. Cardano also surpassed Ethereum in daily trading volume, despite only generating a fraction of its competitor’s transaction fees. cryptocoin.com We have compiled the details for you, let’s examine the subject together…
Cardano-based DEX has announced its mainnet launch date: ADA has skyrocketed!
According to data provided by Messari, Cardano is ahead of Ethereum in terms of trading volume in the last 24 hours ($7.02 billion and $5.41 billion, respectively). When it comes to adjusted trading volume, the two rival cryptocurrencies go head-to-head. Cardano users only paid $66,058 in transaction fees over the past 24 hours, compared to Ethereum’s $44.74 million.
While critics tend not to view Cardano as a “ghost chain,” stablecoin hub Ardana, decentralized exchange Maladex, decentralized banking protocol MELD, and NFT marketplace CNFT.IO. There are already some leading dApps running on the network such as Cardano-backed decentralized exchange SundaeSwap recently announced that it will launch its mainnet this Thursday. This news was fuel for the ADA price to rise.
The popular altcoin knocked out its rivals and returned to the top 5!
John Woods, Cardano architecture director at Input Output, announced a number of scaling solutions expected to be implemented in 2022 (Plutus script enhancements, Hydra, sidechains and Mithril). He also said that there are “many” projects nearing completion of their development. John Woods made the following comments on the subject:
Depending on how busy it is at a given hour, you may have a few minutes for your transaction to complete. However, we have a really solid plan for scaling.
Last week, Cardano (ADA) also won a poll published by Ethereum founder Vitalik Buterin in which he asked which Ether alternative could become the world’s most dominant cryptocurrency by 2035. According to CoinMarketCap data, the ADA price has increased by more than 11%. In the last week, the altcoin price has increased by more than 26%. Currently, ADA is the fifth largest cryptocurrency by market cap, surpassing USD Coin and Solana.
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