Step Aside Solana! Cardano Claims Fifth Largest Crypto Market Cap
Cardano (ADA) has strung together several days of gains while the overall market has struggled with sluggish performances over the previous week. After it’s strong performance, rising from $1.15 on January 11 to $1.49 at the time of publication, Cardano now ranks as the fifth-largest cryptocurrency carrying a market capitalization of around $50 billion and at the same time outpacing Solana which sits at a market cap of around $43 billion.
By Andrew Senior
January 18th, 2021
Aside from gaining in valuation, Cardano has also seen consistently high transaction volumes over the same time period. During one trading session, Cardano volume actually surpassed that of Ethereum. Though ADA has enjoyed some recent gains, it has not been completely immune from the pullback recorded across the broader cryptocurrency market.
Additionally, Cardano recently took its first steps into the metaverse with the announcement of The Pavia project which will function similarly to Decentraland and The Sandbox with commercialized virtual land with users given the freedom to personalize their experiences and create their own virtual worlds.
With all the positive momentum, Cardano could be ready for a banner year.
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