Cardano (ADA) Overtakes Ethereum (ETH) on Many Fronts: Details
TL;DR
- cardano‘s whale transaction volumes and NFT sales have been attracting attention lately.
- ADA’s price has recently underperformed compared to ETH, but experts are expecting a potential upside influenced by upcoming events and developments in the crypto industry.
According to IntoTheBlock data, Cardano whales processed an average of $13 billion in large daily transactions last week. By comparison, Ethereum’s figure was $5 billion.
So Cardano made NFT sales volume has reached over $7.6 million in the last 30 days, making progress in the non-fungible token space. Ethereum may be the leader at around $341 million, but this actually represents a 23% decline on a monthly basis.
Despite the above-mentioned developments, Cardano’s ADA has performed worse than ETH recently. The former is currently trading at $0.50 (according to CoinGecko data), or a 14% decline on a weekly scale. ETH is hovering around $2,470 and is down 5% in the same period.
However, some experts think ADA may be on the verge of a rally, given the importance of many upcoming events.
Dan Gambardello (Founder of Crypt Capital Venture) summarized Coinbase v. The SEC lawsuit is seen as a major catalyst, suggesting that the company’s victory could spark a “mega altcoin run.”
Remember the editor South Last summer, the exchange was accused of violating various laws and offering trading services in allegedly unregistered securities such as ADA, SOL, MATIC and more.
Those who want to check other Cardano price predictions can check out our special video below:
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