What Is Behind the Growth of Cardano Token?
Cardano’s native blockchain token, ADA, has surpassed Dogecoin (DOGE) in CoinMarketCap’s top cryptocurrencies ranking. With ADA up more than 15% in the past week, the Cardano token has reached $2 billion in capitalization. At the same time, DOGE’s price rose less than 14% after growing across the cryptocurrency market, thus contributing just $1.3 billion to the market valuation of the entire Dogecoin supply. As of today, the Cardano token is the 8th largest crypto asset by market capitalization and Dogecoin is the 9th.
Both tokens are relatively far away from their closest neighbours, with blockchain token Polygon (MATIC) making the top 10 in the rankings and Binance stablecoin BUSD coming in at the closest top spot. Globally, the surge in ADA prices has been impacted by the cryptocurrency market surge that has occurred in full over the past seven days. However, it is important to take a look behind the scenes of Cardano as a blockchain right now, especially since almost 30 days after a new development report has been released.
Source: The Pipsafe Team – What Is Behind the Growth of Cardano Token?
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