The crypto-verse has always been full of surprises for folks from the business. This time around what has been surprising for the business is Cardano. This is back to its momentum from its state of dormancy, which had crippled the metrics of the last quarter of the previous year.
The present year has begun on a healthy note for Cardano, with its announcements, developments, and utility. In a series of recent updates, Cardano has reclaimed its 5th position by market cap, as the transaction volumes soar to newer highs. On the other hand, Sundae Swap’s mainnet and ISO launch have been escorting Cardano to the limelight.
Caradno’s Growing Hegemony
Cardano has taken public platforms by storm off-late, as the network had dethroned the star altcoin Ethereum. By surpassing the count of transaction volumes for 24-hours, which has been a notable feat by the protocol. However, Ethereum has managed to climb back to the second spot by transaction volumes at $5.59 B. Whilst Cardano still accounts for an appreciable $5.31B in transaction volumes.
In succession, it is vital to make note of the fees for 24-hours, whilst for Ethereum it is $43.90 M, that for Cardano is a mere $75,380.88. The above statistics are from the house of crypto research firm Messari. The overwhelming metrics have helped Cardano climb back to its 5th position by market cap, overtaking Solana.
In addition, Cardano built DEX SundaeSwap has announced the launch of its mainnet and ISO on Thursday, the 20th of January. SundaeSwap going live is expected to welcome an influx of overwhelming count of traffic to the network. Savvies from Cardano are optimistic about Cardano handling the traffic efficiently in comparison to its rivals.
As previously mentioned, 2022 has initiated on a healthy note for Cardano, with a number of developmental initiatives, announcements, and utilities. The blockchain’s environmental initiatives with Veritree, alongside Samsung’s venture have been imperative in Cardano’s prominence in recent times.
Concluding, the rise of Cardano has been astonishing for masses in the fraternity. The protocol has risen from the 7th position to the 5th in a mere week’s time. Cardano’s level of decentralization, developments which are atop other blockchains, robust fundamentals, environment-conscious moves, and its venture into diverse sectors. Makes it an ideal asset to bag for higher returns in the mid-term.