Cardano’s native token ADA overtakes XRP and claims the spot as the 6th largest cryptocurrency worldwide by market cap. ADA is now about $88 million more than XRP in market cap according to CoinMarketCap.

ADA broke a key resistance level of $0.5472 and it is now trading at $0.5583, up nearly 8 percent in the past 24 hours. It outperformed XRP, which saw a gain of less than 2 percent and is currently trading at USD 0.3814.

ADA appears to be well on its way to $!. In the past hours. Trading volume increased by more than 70%, according to CoinMarketCap, and according to blockchain explorer, the network is now executing 75,000 transactions per day.

As per forbes, Cardano is a blockchain platform that looks set to become the ‘internet of blockchains’ and while the so-called Ethereum killer is still several millions away from reaching the 5th position on the list of largest cryptocurrencies, the possibilities of the project may not be undermined.

Cardano Developer Input Output Proposes Date For Hard Fork

After several delays and postponements, Cardano’s developer Input Output explained on Twitter that the Mainnet for the Vasil Hard Fork needed to be safely run and managed before going live. It goes on to outline three indicators that will determine when that hard fork mainnet launch will happen,

It explained that first, 75% of the mainnet blocks must be created by the eventual Vasil node candidate. Then approximately 25 exchanges representing the bulk of available liquidity must be on board for the upgrade to take place on Utoday

Finally, the leading Cardano-based decentralized applications (dapps) need to upgrade to node version 1.35.3. Minswap, before activating the mainnet upgrade.

Abigal .V. is a cryptocurrency writer with over 4 years of writing experience. She focuses on news writing and is adept at finding current topics. She is a fan of cryptocurrencies and NFTs.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not responsible for your personal financial loss.

This post Cardano (ADA) Converts XRP As 6th Largest Cryptocurrency; Will Bulls Break Past $0.55?

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