Cardano (ADA) Overtakes XRP To Become 6th Largest Crypto Globally

ADA the native token of Cardano has edged past XRP to occupy the position as the sixth largest crypto asset in the world by the way of market capitalization. ADA has edged past XRP and its values are $88 million more than XRP as per data received by CoinMarketCap. In the past 24 hours ADA trading volumes have surged by more than 70%.

ADA’s trading volume Surges 70% in 24 Hours

ADA breached through the resistance level of $0.5472 and is now changing hands at $0.5583, surging up 8 percent in the last 24 hours. In the same period XRP surged by 2% and was trading at $0.3814 as at press time. ADA has thus outperformed XRP by a big margin.

As per data received by CoinMarketCap ADA looks all set to breach the $1 mark and its trading volume has surged by more than 70% and the network executes 75,000 transactions per day.

This is the reason why Forbes has labelled the blockchain platform of Cardano as the ‘internet of blockchains’. It is also dubbed as the Ethereum Killer but still has a long way to go before it becomes the 5^th biggest cryptoasset in the world.

Cardano Developer Recommends Time For Hard Fork

After much delay and dilly-dallying Cardano Developer, Input Output took to Twitter to explain that there is a need for Vasil Hard Fork had to be executed and managed securely before it can go live. It also revealed three benchmarks which will ultimately decide when the mainnet launch of the hard fork will happen.

The benchmarks are

• Final Vasil node candidate will create 75% of mainnet blocks
• 25 exchanges which represents a giant chunk of liquidity available have to be taken onboard.
• Upgradation of the leading Cardano-based decentralized applications (dapps) to node version 1.35.3.