[ad_1]
Cardano’s ADA token has risen 30 percent in the past seven days, according to CoinGeck.
Who Bloomberg
Published January 17, 2022
Cardano’s ADA token has risen in the past week, even as it has traded sideways like Bitcoin and Ether, amid some promising developments in its blockchain.
The ADA has risen 30% in the last seven days, according to CoinGeck’s prices, while Bitcoin, Ether, Solana and XRP have advanced by less than 5%. Messari’s data shows that Cardano’s 24-hour transaction volume is $ 5.33 billion, compared to Ethereum’s $ 5.59 billion. But Cardano’s gas quotas — payments made by users to offset the computational energy needed to process transactions — were about $ 75,400, compared to $ 44 million in the period.
“It’s pretty easy to argue that the NFT market has found a lightweight way to make transactions, and that’s the Cardano blockchain,” said Hayden Hughes, CEO of Alpha Impact, the social media platform for cryptocurrencies. “Many have argued that it is a matter of time before gas rates and congestion interfere with the Cardano blockchain, leading to large gas quotas, but despite daily activity of $ 5.33 billion we have not yet seen that.”
Lark has just started, it’s just January https://t.co/ToJ923QOAk
– Charles Hoskinson (@IOHK_Charles) January 17, 2022
Cardano has had his ups and downs in recent months. For a time, it was the third largest cryptocurrency, with only Bitcoin and Ether, and was close to $ 100,000 billion in market value amid optimism about increasing the capabilities of smart contracts. However, after that it fell and is about 50% below the records of the beginning of September, even though it was the last rally. Although Cardano has an avid fan base, he also has opponents. Mike Novogratz, CEO of Galaxy Digital, posted it on Twitter in August: “I talked to twenty smart people I know in space, and zero of them saw Cardano as having traction with developers.”
“Critics of the ADA say it’s too much talk and not enough action,” said Antoni Trenchev, Nexus’s managing partner. “Cardano’s position as an enemy of Ethereum was somewhat usurped by the rise of the Solana and Avalanche rival blocs in 2021.”
Cardano’s recent developments in decentralized finance, including non-fungal tokens and metabersion, as well as scaling advances, are likely to contribute to the optimism about the blockchain, says Vijay Ayyar, Asia-Pacific leader at Luno Pte.
Trenchev affirmed it, citing metaverse and decentralized exchanges as reasons for excitement.
“The first DEX in the Cardano blockchain – the decentralized exchange – comes after the establishment of the planned NFT presence,” Trenchev said. “If that’s not enough, Cardano is stealing some attention from Decentraland and The Sandbox with the news of Cardano’s first metaverse (Pavia.io).”
[ad_2]
Source link
