Cardano overtakes Ripple in market capitalization

Cardano overtakes Ripple in market capitalization

According to CoinMarketCap, Cardano has overtaken Ripple in market cap. The first being in seventh place with 17.22 billion dollars and the second behind with 16.4 billion dollars. ADA celebrates with a 30% increase in trading volumes, according to Tomiwabold Olajide at U Today.

Cardano continues to gain ground following positive news on the upcoming Vasil updates, stock listings, and positive investor sentiment. Cardano is outperforming the top 10 cryptocurrencies in 24-hour gains on Sunday. Trading interest in the asset is also highlighted by a 30% increase in trading volumes, with 1.8 billion (1,891,419,122) ADA traded in the last 24 hours.

EADA continues to be one of the main gainers of the week, with an increase of 12.39%. On Friday, Cardano developer Input Output announced that the target date for the Vasil upgrade is September 22. Charles Hoskinson, the creator of Cardano, also confirmed the date, generating excitement in the community.

Another highlight of the past week continues to be Cardano’s Robinhood listing. On Thursday, stock brokerage app Robinhood announced its support for the ADA. In the same week, Input Output announced its collaboration in the field of blockchain research by funding a new $4.5 million “Blockchain Research Center” at Stanford University, one of the leading centers of research and higher education in the world.

Cardano’s ADA rose higher this Sunday as the community digested the news of the imminent release of Vasil, which is anticipated to bring improvements to Cardano and its Plutus contract.

According to readiness metrics monitored by IOG, the Vasil 1.35.3 node has produced 87% of the mainnet blocks. While Binance was significantly closer to completing its integration, the MEXC and Bitrue exchanges had indicated Vasil’s readiness. AscendEX, NDAX, and Dex-Trade have also indicated they are ready to upgrade, with others in the process of upgrading their nodes. Furthermore, 70% of dApps reported positive results in pre-production tests.

Cardano is trading at $0.50 in the early hours of this Monday and the 70-period moving average remains above the last candles.

Ripple is trading at $0.3319 and the 70-period moving average in the same location as above.

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