Buy
Sell
Name Symbol Market Market Cap ($) Algorithm
Solana SOLUSD Crypto 14,295,482,000 Not Mineable
  Price Change Price Change % Current Price Bid Price Offer
  -2.31 -5.22% 41.96 41.96 41.98
High Price Low Price Open Price Prev. Close 52 Week Range
44.38 41.76 44.15 44.27 20.50 - 260.00
Exchange Last Trade Size Trade Price Currency
GDAX 05:53:04 32.95 41.97 USD
Price x Volume Volume Base Symbol Related Pairs
24,863,488.95 580,950.50 SOL SOLEUR SOLGBP SOLBTC

Cardano Records Over 20 Million Transactions Ahead of DEX Launches

02/12/2021 11:00pm

NEWSBTC


The Cardano network remains one of the most stable blockchains in the crypto space. Founded in 2017, the network remains the largest proof of stake network in the industry. It holds the title for the proof of stake network with the highest amount of coins staked, only recently conceding to Solana to become the smart contracts platform with the second-largest amount of coins staked. Nevertheless, Cardano remains a force to be reckoned with and its latest achievement has shown that. Network activity has picked up on the network since the launch of smart contracts capability. Now, a little over two months after, the network has marked its 20 millionth transaction after only four years in operation. Related Reading | Cardano Active Addresses Shoots To New Highs Amid Downtrend Cardano Remains At The Top The project has done some impressive things in its four years of operation, one of which is barely experiencing any downtime. Most projects in the market have experienced downtime at some point. Most notably the Solana network blackout that saw the network go dark for about 24 hours. Cardano itself has experienced downtime which occurred in April but it lasted for only an hour and was over so quickly that a good portion of the community does not know this happened. Despite the lack of decentralized exchanges (DEXes) on the blockchain, it has managed to ramp up more activity than leading smart contracts platform Ethereum. Users can mint NFTs on Cardano, which has contributed greatly to this increased network activity. However, given that Ethereum has DEXes and NFT capability, this is an incredible feat for Cardano. ADA begins recovery trend | Source: ADAUSD on TradingView.com With this, Cardano has proven that it will be one of the leading DeFi platforms once decentralized finance takes off properly on the platform. ADALend, credited as the first lending protocol on the platform, is building its decentralized lending protocol on Cardano, which has been positively received by the community so far. How ADA Is Doing In The Market Cardano’s native token ADA has not had the best of weeks in the market recently. The digital asset had been the victim of major FUD that has seen its price sink to three-month lows. This has mostly been the result of crypto exchange eToro announcing that it would be limiting Cardano (ADA) capabilities for U.S. users on the platform starting in December. Related Reading | Cardano Ambassador Addresses FUD Surrounding The Project The token had taken a big hit following this, dropping down to the $1.4 range before picking up steam again. Despite the recovery, the coin continues to trade at about $50% less than its all-time high above $3 in September. Dropping prices have however not affected the amount of tokens being staked on the network. Cardano still maintains over 70% of its total supply staked by holders, one of the largest in the space. Featured image from Binance Academy, chart from TradingView.com

1 Year Solana Chart

1 Year Solana Chart

1 Month Solana Chart

1 Month Solana Chart
ADVFN Advertorial
Your Recent History
COIN
SOLUSD
Solana
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220529 04:53:09