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

The blockchain and native token Cardano ADA $0.80 Cardano -1.16% Market capitalization $29.19 billion VOL. 24 hours $0.16 billion holds the lead in cryptocurrency development, ahead of other major digital assets, including Bitcoin BTC $109,072.00 Mezo Wrapped BTC 0.68% Market capitalization $39.97 million VOL. 24 hours $1.69 billion and Ethereum ETH $4,306.81 Bridged Ether (StarkGate) -2.33% Market capitalization $0.11 billion VOL. 24 hours $2.21 billion .

This is evidenced by the data of the analytical company Santiment, which noted that the «blockchain of blockchains» Polkadot DOT $3.68 Polkadot -1.39% Market capitalization $5.61 billion VOL. 24 hours $34.12 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.