Last week, Cardano (ADA) showcased a 10% increase, stirring interest in the cryptocurrency. This article explores key metrics and insights from Charles Hoskinson.
ADA Price Growth
ADA concluded the week with a 10% growth, suggesting the possibility of breaking the 9-month descending trend. However, questions remain as to whether the cryptocurrency can sustain this momentum going forward. ADA managed to recover about 50% of its critical level, following a decline seen in late July.
Charles Hoskinson's Statement
Cardano founder Charles Hoskinson noted that Cardano outperforms Ethereum, Bitcoin, and Solana in governance. "We surpass even the best networks in this critically important aspect," said Hoskinson, highlighting its significance for attracting institutional investors.
Current State of Cardano Network
Over the past week, Cardano's decentralized exchange volume reached just above $5 million, significantly trailing behind competitors like Solana and Ethereum, which achieved volumes in the billions. The total value locked (TVL) saw a slight increase recently, reaching $359.83 million.
The 10% growth of ADA confirms interest in the cryptocurrency, but the continuation of this trend will depend on external factors and investor demand.
