Cardano (ADA) Becomes Third-Largest Crypto After Overtaking BNB In Market Cap
Cryptocurrency Cardano (ADA) has now entered into the list of top 3 largest cryptocurrencies in the world after gaining a massive profit and beating out BNB, who unfortunately fell behind in value. Cardano managed to show an outstanding performance in the market for weeks despite the difficult challenges and recent huge Bitcoin crash, developing many rivalries in the process.
Cardano Stands With Pride
Reaching a current market cap of almost $39 Billion, Cardano managed to cross BNB by a staggering $4.5 Billion lead. When BNB fell by a massive 22% drop in a week, it seemed inevitable that it would lose its podium position soon.
On the other hand, Cardano managed to stand firm and raised up to around 18% in value in a day and over 30% in a week, showing a massive gain in value and successful ventures across its system. The whole system is currently celebrating this achievement, being thankful for the sweet fruit they received for their hard work and dedication.
How Did Cardano Achieve This?
Pushing the massive growth, Cardano started getting noticed by many investors. Digital currency investor and asset management corporation Grayscale recently explored the market for 23 tokens which included ADA as well. This step by Grayscale has surely provided support and exposure to new tokens, guiding them to the path of partnerships and project ventures with investors.
Several hedge funds and venture capitals, including Billionaire investment fund FD7, have also contributed to the purchase and sale of ADA, boosting its overall value. FD7 also announced that it would sell a chunk of its bitcoin to further expand its relations with Cardano and Polkadot for further proceedings.
Managing Director at FD7, Prakash Chand, stated that even with the massive success and worldwide recognition, Bitcoin is still useless, adding that Cardano is one of their projects that will be the pillars of the new internet system and Web 3.0.
Cardano Looking Into New Horizons
Cardano recently achieved another milestone where it revealed a new partnership with developers of Cardano itself, MuKn and IOHK, who will work on a new language for Cardano, further aiding the optimization of the execution of tasks in the ADA blockchain and also allow for easier development of Apps for Cardano which is currently an extremely hard task due to limitations in the current language.
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