The fast-rising valuable cryptocurrency has received a fresh wave of buying sprees, seeing its price hit a new all-time high of $1.29. This makes Cardano the third-ranked crypto by market value, more than XRP and Polkadot.
At the time of writing, Cardano is trading at $1.46. It is the biggest one-day percentage gain since February 20.
Such gains pushed Cardano’s market value to $39.2 billion, or 2.75% of the total crypto market value. At its highest, Cardano’s market capitalization value stood at $38.4 billion.
Highly revered crypto analyst/trader, Michaël van de Poppe, also recommended the fast-rising crypto asset.
In a video (titled “Cardano Breaks $1 But $10 Is Possible In This Bull Cycle! Here’s Why!”) released recently, the crypto pundit said:
“Cardano going towards $10 is not that weird to calculate from here, especially given the fact, and I’ve been saying this in the past week multiple times, especially given the fact that Cardano and mostly all the Bitcoin pairs are just barely waking up. So there’s still much more to gain for the Bitcoin pairs.”
Lately, Cardano (ADA) has been tipped to outperform, as it had its smart contract launch last month, which will lead to a great amount of applications built on Cardano in 2021. In other words more developers will see it as an attractive medium for building their desired apps.
BINANCE COIN’S RISE TO PROMINENCE
Minance coin (BNB) has historically been offered by Binance as a utility token for discounted trading fees on their platform. However, with the release of Binance Smart Chain in September 2020, it is now a serious potential competitor with Ethereum in the DeFi space.
PancakeSwap and Venus, both decentralized exchanges operating on the Binance smart chain, have rapidly rose their total value locked to $3.4B and $3.9B according to Defistation, respectively. In comparison, UniSwap and Aave stand at $4.4B and $3.4B, respectively.
The TVL on Binance Smart Chain shows a truly telling picture of which ecosystems users want to participate in, with almost the entirety of PancakeSwap’s and Venus’s capital entering in the past four months compared to Aave and UniSwap’s two+ years of operation in the space.