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The blockchain and native token Cardano ADA $0.18 Cardano -1.51% Market capitalization $6.82 billion VOL. 24 hours $12.86 million holds the lead in cryptocurrency development, ahead of other major digital assets, including Bitcoin BTC $63,590.43 Bitcoin -0.25% Market capitalization $1.28 trillion VOL. 24 hours $0.82 billion and Ethereum ETH $1,885.66 Ethereum 0.33% Market capitalization $227.57 billion VOL. 24 hours $0.32 billion .
This is evidenced by the data of the analytical company Santiment, which noted that the «blockchain of blockchains» Polkadot DOT $0.78 Polkadot -1.01% Market capitalization $1.33 billion VOL. 24 hours $2.29 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.