Cardano blockchain managed to surpass the performance of Bitcoin and Ethereum networks

The blockchain and native token Cardano ADA $0.78 Cardano -2.33% Market capitalization $28.22 billion VOL. 24 hours $0.12 billion holds the lead in cryptocurrency development, ahead of other major digital assets, including Bitcoin BTC $103,866.66 Bitcoin 0.60% Market capitalization $2.06 trillion VOL. 24 hours $1.55 billion and Ethereum ETH $2,575.03 Bridged Ether (StarkGate) -1.08% Market capitalization $0.23 billion VOL. 24 hours $1.83 billion .

This is evidenced by the data of the analytical company Santiment, which noted that the «blockchain of blockchains» Polkadot DOT $4.88 Polkadot -2.87% Market capitalization $7.43 billion VOL. 24 hours $30.64 million and Kusama (KSM) took the second and third places, respectively. Optimism (OP) was right behind them, ahead of other large digital assets.

Santiment’s data comes at a time when the total value of Cardano’s decentralized finance (DeFi) protocols has begun to fall from a high of more than $ 400 million to the current $ 330 million.

But despite the decline, a cohort of crypto analysts is optimistic about ADA. According to Ali Martinez, Cardano’s current consolidation phase mirrors that of late 2020, when the cryptocurrency was trading at around $ 0.10 per token.

In 2021, Cardano witnessed a significant price surge amid a broader bull market in cryptocurrencies, jumping to $ 2 before correcting to $ 1.12. After that, the cryptocurrency continued to grow, reaching an all-time high of $ 3.

As of the morning of Thursday, January 25, ADA is trading at $ 0.47 per coin, an increase of 0.95%. The asset’s market capitalization exceeded $ 16.7 billion, and traders made daily trading deals worth $ 353.3 million.