Cardano has confirmed exceptional performance over the last week, which comes as the announcement of the date for the Vasil update draws closer. According to statistics provided by CoinMarketCap, Cardano (ADA) has just surpassed Ripple (XRP) in terms of market capitalisation. Cardano is presently ranked as the seventh biggest cryptocurrency and has a market size of $17.1 billion, which places it ahead of XRP, which has a market cap of $16.3 billion.
In terms of 24-hour gains, ADA beat the top 10 cryptocurrencies during the time of writing. The asset’s trading interest is further underlined by a 30% surge in trading volumes, which resulted in 1.9 billion (1,934,386,014) ADA being exchanged in the preceding twenty-four hours.
ADA has increased by 4% to $0.5. ADA led all gainers this week with a gain of 12%. On Friday, Input Output, the company that developed Cardano, said that the next update for Vasil will take place on September 22. Charles Hoskinson, the person responsible for the creation of Cardano, was also the one who revealed the date, which caused the community to get excited.
The listing of Robinhood is another highlight from the previous week. On Thursday, support for ADA was introduced to the Robinhood app, which is a stock trading service. During the same week, Input Output made an announcement regarding its collaboration in blockchain research by funding a new “Blockchain Research Hub” at Stanford University in the amount of $4.5 million. Stanford University is one of the most prestigious institutions in the world for research and higher learning.
Cardano’s ADA price reached a new all-time high of $0.51 on September 4 as the cryptocurrency world processed the news of the impending release of Vasil. This development is anticipated to bolster Cardano and its Plutus contract.
The next September will be a significant one for Ethereum since it coincides with The Merge. When looking at the performance of XRP and SOL, it is possible to say that the competition among alternative cryptocurrencies is growing more fierce.