Cardano (ADA) Attains 9th Position in Market Valuation During Ecosystem Inflows
With a market valuation of $28.68 billion, Cardano (ADA) has claimed the 9th position in cryptocurrency market capitalization, surpassing Avalanche (AVAX). Despite recent inflows into its ecosystem, the coin beat Avalanche’s $22.28 billion to attain the title of 9th largest coin. As the value of Cardano’s ecosystem has skyrocketed, so too have funds flowing into it. From roughly $1.7 million in mid-January to a present-day total value locked (TVL) up at just under $315 million – or a 18420% increase. The Cardano team has entered the third phase of its construction, a....
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Cardano has flexed its muscles in the latest iteration of inflows coming into the market. Inflows have been steady the past couple of months, currently at 13 consecutive weeks of inflows for the market. Bitcoin and altcoins alike have benefited from the inflows which have indicated institutional interest piquing in the market. However, Cardano looks to have enjoyed the most benefits amongst the altcoins from last week’s inflows. Cardano Leading The Pack Cardano saw positive inflows for last week which put it ahead of other altcoins. Total inflows for the week had come out to $151 million....
Cardano and Solana have led the charge of altcoins in the recent round of inflows into the crypto market. Altcoins saw increased inflows alongside bitcoin, which had seen increasing interest from investors after the first bitcoin ETF had been approved and began trading last week. Last week recorded the highest amount of institutional inflows coming into the market. Institutional investors are now upping their stake in the market with the recent gains recorded across the market. Most notably has been the price of bitcoin which had broken a new all-time high following the trading of the....
During the second week of October, bitcoin market values have maintained prices between $54K to $57K. Meanwhile, myriad alternative crypto assets have not yet seen the gains the leading crypto asset has enjoyed during the last two weeks. For instance, cardano used to be the third-largest crypto market in terms of valuation, but after losing 4.8% cardano has slid down to the fifth position this past week. Cardano Drops from 3rd-Largest Crypto Market Cap to 5th-Largest The digital currency cardano (ADA) has seen some decent gains during the last 12 months as ADA has increased by 1,840.5%....
The crypto asset solana has managed to capture more than 12% in gains during the last 24 hours and has recently positioned itself as the sixth-largest cryptocurrency market capitalization. The crypto asset’s overall market cap is around $62.2 billion, only 11% away from surpassing cardano’s market valuation at $69 million.
Solana Takes the 6th Spot, Market Valuation Nears Cardano’s Market Cap
On Friday, the crypto asset solana (SOL) has managed to take the sixth position in terms of the world’s largest crypto market valuations. At the time of writing....
Data from DeFi Llama records a massive increase in the total value locked (TVL) of FluidTokens, a Cardano-based lending protocol. This blockchain deployed its smart contract capabilities in late 2021 and has been experiencing a spike in ecosystem growth as more projects are launched on mainnet. Related Reading | When Will The Extended Stretch Of Extreme Fear In Crypto End? According to DeFi Llama, the Cardano-based lending and borrowing platform has seen a 20% increase in its TVL for the past week and a 56,600% increase in its TVL during the past hour. FluidTokens managed to take the....