Cardano (ADA) Flips XRP As 6th Largest Crypto; Will Bulls Break Past $0.55?

by Zack Edelman
7 ways to make with crypto

Cardano (ADA) Flips XRP As 6th Largest Crypto; Will Bulls Break Past $0.55?

Cardano’s native token ADA overtakes XRP to claim the spot of the 6th largest cryptocurrency globally by market capitalization. ADA is now about $88 million more than XRP in market capitalization according to CoinMarketCap.

ADA’s trading volume increased by over 70% in the past day

ADA broke a key resistance level of $0.5472 and now trades at $0.5583, pumping up almost 8 percent in the last 24 hours. It outperformed XRP which saw an increase of less than 2 per cent and is currently trading at $0.3814 as at press time.

ADA looks to be very well on its way to $!. In the last few hours. Its trading volume increased by over 70% according to CoinMarketCap and per the blockchain’s explorer, the network executes 75,000 transactions per day now.

Per forbes, Cardano is a blockchain platform that looks to become the ‘internet of blockchains’ and although the so called Ethereum killer is still several millions away from attaining the 5th position on list of largest cryptocurrencies, the project’s potentials is not to be undermined.

Cardano developer Input Output Suggests date For Hard Fork

After several delay and postponements, Cardano’s developer Input Output has explained on Twitter that the Mainnet for the Vasil Hard Fork had to be executed and managed securely before it goes live. It goes on to outline three indicators that will determine when that mainnet launch of the hard fork will happen,

DOT Price Analysis: Post-retest Rally Aims For 25% Jump; Buy Now?Altcoin News LTC Price Analysis: Bearish Pattern Lurking on Litecoin; is it Worth Holding?Altcoin News MATIC Price Analysis: Why Market Price Could Surpass The $1 Mark?Altcoin News Cardano Price Analysis: Hit Three-Month High Near $0.56; Hold or Exit?Altcoin News

It explained that firstly, 75% of mainnet blocks have to be created by the final Vasil node candidate. Then, about 25 exchanges representing the lion’s share of available liquidity have to be onboarded before the upgrade takes place per Utoday

Finally, the leading Cardano-based decentralized applications (dapps) have to upgrade to node version 1.35.3. Minswap, before the mainnet upgrade will be triggered.

7 ways to make money in crypto

You may also like

Leave a Comment

The latest news about crypto industry at Coingraph. Most recent news about bitcoin, altcoin, blockchain, mining, cryptocurrency prices and more.

 

Email: [email protected]

© 2022 Coingraph.org – All rights reserved.