Cardano (ADA) Attains 9th Position in Market Valuation During Ecosystem Inflows

Name	Symbol	Market	Market Cap ($)	Algorithm
Avalanche	AVAXUSD	Crypto	12,536,552,818	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Avalanche

AVAXUSD

Crypto

12,536,552,818

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.130	0.39%	33.42	33.41	33.43

Price Change

Price Change %

Current Price

Bid Price

Offer

0.130

0.39%

33.42

33.41

33.43

High Price	Low Price	Open Price	Prev. Close	52 Week Range
33.58	32.27	33.51	33.29	8.62 - 65.38

High Price

Low Price

Open Price

Prev. Close

52 Week Range

33.58

32.27

33.51

33.29

8.62 - 65.38

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:22:38	2.59	33.42	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:22:38

2.59

33.42

USD

Price x Volume	Volume	Base Symbol	Related Pairs
11,784,896.77	358,277.24	AVAX	AVAXEUR	AVAXGBP	AVAXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

11,784,896.77

358,277.24

Cardano (ADA) Attains 9th Position in Market Valuation During Ecosystem Inflows

18/03/2022 8:00pm

NEWSBTC

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 process known as Basho, the Cardano’s next era after Alonzo. Cardano plans to release Hydra, a collection of Layer 2 solutions, as part of this phase. In this stage, Basho will update Cardano’s security and scalability. Related Reading | Cardano Based Project Bashoswap Introduces Launchpad and DEX The first Hydra Heads have opened on the public Cardano testnet, and it is an exciting moment for this scaling journey. As a result, the protocol can be vital in ensuring that there are no problems along the way towards becoming a fully decentralized network. Cardano Price Action And Ecosystem Inflows The Cardano ecosystem is booming with new funds, attracting nearly $150 million in March alone. With the surge of total value locked at over $314.87 million from roughly $168.95 million, big things are expected for this crypto project. Cardano’s TVL has increased by more than 80% in just two weeks. And It is currently worth $225.9 million without including staked governance assets. The increase was noted on February 28th through March 16th, when the number rose from $150 million to $314.87 million. The Cardano Minswap has seen a surge in total value locked (TVL) over the last week, with 121% more locked up than before. Cardano Minswap became the most significant protocol by flipping the SundaeSwap. The majority of funds on this network now reside at its Minswap decentralized platform–with $115 million currently locked. Even as Cardano (ADA) continues to progress, the price has failed to catch up. The coin has been on a downward journey after reaching its ATH at $3.10 in September 2021. Related Reading | TA: Bitcoin Holds Uptrend Support, What Could Trigger Sharp Decline The Cardano price has fallen nearly 75% from its all-time high of $3.10 and currently trading at $0.85 per coin. However, $0.85 remains a vital resistance point. Because if investors can stay above that price level, they’ll see their investment rise towards testing another crucial milestone of $0.9. Although, Cardano is still a long way from returning to its former price of $1. As investor sentiment remains negative and the current market favors sellers. Featured image from Pixabay, chart from Tradingview.com

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AVAXUSD Avalanche