TL;DR
- Cardano coin outperforms btc and eth in certain fields, but faces a price drop.
- Market trends are bearish, but experts remain optimistic about the future of ADA.
According to market intelligence platform Santiment, Cardano's ADA was the top cryptocurrency by development activity in the last 30 days.
Polkadot (DOT) and Kusama (KSM) ranked second and third, respectively, while ethereum (eth) ranked tenth. Interestingly, bitcoin (btc) did not find a place on the list.
Here they are crypto?src=hash&ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>#cryptoTop currencies by development activity. Remarkable #github commits after 30 days:
1 @cardano $ADA
T2 @moles $POINT
T2 @kusamanetwork $KSM
4 @optimismoFNP $OP
5 @ethstatus $SNT
6 @ivy $HBAR
7 @cosmos $ATOM
8 @dfinity $ICP
9 @link of the chain $LINK
10 ethereum?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>@ethereum $eth pic.twitter.com/zhN01674ag– Sentiment (@santimentfeed) January 22, 2024
As CryptoPotato reported, ADA also outperformed major cryptocurrencies in that metric in November. At that time, eth was in ninth place, while btc was once again out of the ranking.
Cardano also has witnessed some progress in the non-fungible token niche, with nft sales volume exceeding $165,000 over the last 24 hours (an increase of almost 40% on a daily basis). ethereum has raised over $14 million over the past day, representing a 9% jump.
Contrary to those achievements, ADA price has suffered a sharp decline lately, falling almost 15% weekly (according to data from CoinGecko).
Its collapse coincides with the overall bearish market condition, with btc falling 9% in a week, eth falling 12%, and SOL falling more than 16%.
Despite the negative trends, many experts remain optimistic that 2024 would be very beneficial for ADA, with some predicting new all-time highs. Those who would like to learn more can watch our video below:
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