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Cardano reclaimed its 5th spot in the crypto market by gaining more than 37% in a week

Cardano reclaimed its 5th spot in the crypto market by crossing Solana. ADA has added more than 37% to its value over the last week. According to CoinMarketCap, the price of ADA reached the $1.57 price mark from $1.12.

The Crypto market is recovering from the recent bearish cycle which caused billions of dollars out of the market. It seems that Cardano is leading this recovery. The native token of the Cardano, ADA, has added more than 37% in its price over the last week. By this bullish move, Cardano reclaimed its 5th position in the crypto market. On January 10, ADA was trading at $1.12 per unit which has increased to $1.57 per unit.

Cardano reclaimed its 5th spot in the crypto market:

Cardano reclaimed its 5th spot in the market by surpassing the Solana. According to CoinMarketCap, ADA has a market cap of $50.5 billion against SOL’s $44.6 billion. There are many reasons behind these bullish moves of Cardano. It is a bit surprising to see that Cardano blockchain even surpassed Ethereum blockchain in transaction volume. Statistics from the Messari data indicate that over the last 24 hours Cardano’s transaction volume reached $7 billion.

Cardano reclaimed its 5th spot

However, the number that deserves to be highlighted and demonstrates that Cardano can present itself as a real and exciting alternative to investors is that Cardano users paid $66,058 in transaction fees. At the same time, Ethereum spent a staggering $44.7 million in fees, according to Messari data.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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