Cardano developers recently released the latest Daedalus 5.3.0 update.
The price of ADA is down 2% in the past 24 hours, while the value of SOL is down more than 5%.
Cardano [ADA] released its new mainnet upgrade on July 17, 2023, adding multiple new features to the blockchain. Research firm Input Output Global recently posted a tweet highlighting all the changes brought about by the new network upgrade. At the same time, ADA bulls also stepped up their game as the token quickly reclaimed its 7th spot on the top cryptos list by flipping Solana [SOL].
Read from Cardano [ADA] Price prediction 2023-24
Cardano launches new network update
Cardano developers recently pushed their latest Daedalus 5.3.0 update which brings multiple new features and changes to the blockchain.
According to Input Output Global’s tweet, the Daedalus 5.3.0 Mainnet release supports the new ProjectCatalyst registration process, improves the stability of the exchange rate conversion feature, and more. The update also improves the stability of the currency converter. It also makes the sync progress percentage format more consistent.
⭐ OUT NOW: #Daedalus 5.3.0 for mainnet
— Input Output (@InputOutputHK) July 17, 2023
Existing users will be prompted to update via the Daedalus news feed. This update brings numerous dependency updates: cardano-wallet 2023-04-14, Electron 24.2, Node.js 18.14.0, trezor-connect 9.0.8 and Cardano Ledger JS app 6.0.0. The new update could help attract new users and push the daily address card, which has flattened, according to Artemis data.
Cardano is ahead of Solana
A few days ago, Solana gained upside momentum, allowing the token to flip ADA to become the 7th largest crypto. SOL’s good days didn’t last long though, as ADA quickly reclaimed its spot.
However, it was interesting to note that the latest flipping was more a result of SOL’s downtrend than ADA’s performance. According to CoinMarketCap, SOL’s price fell more than 5% in the past 24 hours, while ADA’s plummeted 2%. At the time of writing, ADA trade at $0.3092 with a market cap of over $10.8 billion.
Is your wallet green? Check the Cardano Profit Calculator
While Cardano’s price action has looked better than SOL’s, the on-chain metrics remain bearish. For example, the volume of ADA fell sharply, reflecting lower investor willingness to trade the token.
The positive sentiment around the token also fell sharply last week. In addition, after an increase ADAThe 1-week price volatility registered a downward trend, decreasing the likelihood of a sudden price surge in the coming days.
This post Cardano takes his spot from Solana, but it’s not all good news
was published first on https://ambcrypto.com/cardano-regains-its-spot-from-solana-but-its-not-all-good-news/