The glory of conquering the title of the world’s third-largest cryptocurrency was short-lived for BNB, Binance’s native cryptocurrency, as a new rival dethroned it: Say hello to Prince Cardano!
After a few weeks of spectacular price performance, ADA, the native cryptocurrency of the Cardano blockchain, managed to challenge the markets and raise its price during a bloodbath caused by bitcoin’s largest price drop in history, dethroning BNB in the process.
Cardano (ADA) Is Laughing at the Markets
Currently, ADA has a market cap of $39.6 billion, almost $4.5 billion more than BNB, which now has $35.1 billion at the time of writing.
The Cardano ecosystem has much to celebrate. The cryptocurrency is up 18.76% in the last 24 hours and over 30% in the last week. The figures are in stark contrast to its competitors; for example, Bitcoin has depreciated by 15% in the last week, and Ethereum by 22.8%.
BNB is also following the general markets trend, losing about 22% over the last seven days, paving the way for ADA’s uptrend to knock it out of the list of the three largest cryptocurrencies.
As shown in the graph, Cardano (ADA) has reported major growth in the last 24 hours. A 17% appreciation looks atypical from a technical analysis standpoint, but fundamentals could have an explanation.
Cardano (ADA) is the best performing token of the top 10 in the last 24 hours. Image: Coin360Cardano Will Have A New Language
Today, Cardano got closer to a new milestone. The technology startup MuKn and IOHK – the company responsible for the …
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