- ADA’s which is ranked eighth by market cap has risen its price by 5% over the last 24 hours.
- The Ethereum-killer’s price is currently resting on a key price level.
- A positive trend line on ADA’s charts suggest that its price will rise in the medium term.
Cardano is a third-generation, decentralized proof-of-stake (PoS) blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks. Scalability, interoperability, and sustainability on PoW networks like Bitcoin are limited by the infrastructure burden of growing costs, energy use, and slow transaction times.
Cardano (ADA) Current Market Standing
Cardano (ADA) is ranked as the eighth biggest project in terms of market cap, according to CoinMarketCap. It experienced a 24-hour price gain of 5% – taking its price up to $0.4023 at press time. The Ethereum-killer’s market cap currently stands at $13.917 billion.
Meanwhile, ADA’s 24-hour trading volume currently stands at $586,277 million. Furthermore, the price of ADA is nearer to its 24-hour high at $0.4094. The altcoin’s daily low stands at $0.3727.
The 24-hour gain ...
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