Cardano News

After every week, there are updates and developments in the Cardano ecosystem. Therefore, Altcoin Buzz takes a look at these updates and developments from the first week in February to keep readers informed.

In this article, we’ll examine some performance indicators of the Cardano ecosystem from last week. In addition, 3air announced its departure from Cardano blockchain for SKALE Network. Let’s take a look at the latest updates.

1 – Rankings of Cardano Projects by Trading Volume

Firstly, we will take a look at the rakings of Cardano-based projects by trading volume. According to the CoinMarketCap’s report:

  • Orion Protocol ($ORN) commands the most trading volume, with $78,812,867 within the last week.
  • SingularityNET ($AGIX) is next with a trading volume of $33,428,738 within the last week.
  • Ergo ($ERG) is the third and the last project with an eight-digit figure, it recorded $17,860,622 within last week.
  • ADAX PRO ($ADAX) is fourth with a trading volume of $5,386,009 within the last week.

2 – Top Gainers on Cardano Ecosystem

Another Cardano Updates during the week come from the Cardano ecosystem. According to the reports about the top gaining projects existing on the Cardano ecosystem. The CoinGecko report considers the price performances of these projects within the last seven days. Therefore, it shows that most projects had an impressive week.

Based on the report:

  • Ardana ($DANA) had the best performance, it recorded a 36.6% rate of increase in price-performance within the timeframe.
  • Ridotto ($RDT) is in second place with a 25.4% rate of increase in price-performance within the timeframe.
  • Cardano ($ADA) has the third-best price performance, with an 11.8% rate of increase within the timeframe.
  • Vent Finance ($VENT) is fourth with an 8.1% rate of increase in price-performance within the timeframe.
  • Occam.Fi ($OCC) is fifth with a 7.6% rate of increase in price-performance within the timeframe.

3 – Cardano Ecosystem TVL Proportion

Last week, a report from Defi Llama revealed that the Cardano ecosystem now has $90.86M in TVL (Total Value Locked). From the report, we realize that:

  • SundaeSwap has the most portion, its TVL is $86.3M which is 94.94%.
  • MuesliSwap also has a TVL worth $4.45M which is 4.96%.
  • Lastly, we have ADAX PRO with $104k in TVL.

4 – 3air Departs Cardano Blockchain for SKALE Network

3air, a web3 company, just announced its departure from Cardano blockchain to team up with the SKALE network. This unfavorable development for Cardano reportedly results from the lack of adequate Haskell (a Cardano programming language) developers.

Also, Sandi Bitenc, the CEO of 3air, revealed that they were unable to acquire the necessary manpower despite having a lengthy search and following recommendations from Cardano.

However, Sandi Bitenc believes that joining SKALE Network will help 3air with the development process. Moreover, It’ll grant them access to SKALE Network’s zero fees, multichain features, and faster transactions around decentralized applications (dApps).

We hope you have learned from the latest Cardano Updates.

$ADA Price Outlook

As of the time of publication, the price of ADA was $1.19 with a 24-hour trading volume of $941 million. Also, the price of ADA rose by 0.2% over the last 24 hours. Besides, it has a circulating and total supply of 32 and 45 billion tokens.

Also, join us on Telegram to receive free trading signals.

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