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

The blockchain and native token Cardano ADA $0.80 Cardano -0.70% Market capitalization $29.4 billion VOL. 24 hours $69.9 million holds the lead in cryptocurrency development, ahead of other major digital assets, including Bitcoin BTC $114,118.00 Mezo Wrapped BTC -0.13% Market capitalization $40.34 million VOL. 24 hours $1.72 billion and Ethereum ETH $4,150.13 Bridged Ether (StarkGate) -1.88% Market capitalization $97.07 million VOL. 24 hours $1.61 billion .

This is evidenced by the data of the analytical company Santiment, which noted that the «blockchain of blockchains» Polkadot DOT $3.90 Polkadot -2.55% Market capitalization $5.94 billion VOL. 24 hours $16.83 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.