According to data from CoinMarketCap, Cardano (ADA) is currently trailing XRP in terms of market capitalization. With a current market valuation of $17.22 billion, Cardano now ranks as the seventh largest cryptocurrency, ahead of XRP’s market cap of $16.4 billion. Cardano continues to gain traction following positive news about an upcoming Vassil update, exchange listings, and positive investor sentiment.
At the time of publication, Cardano was outperforming the top 10 cryptocurrencies in 24-hour gains. Trading interest in the asset is also highlighted by a 30% spike, with 1.8 billion (1,891,419,122) ADA traded in the last 24 hours.
Cardano (ADA) price reacts to positive news
Cardano’s native asset, ADA, is currently trading up 6.84% at $0.50. ADA remained a top gainer for the week, up 12.39%. On Friday, Cardano’s developer, Input Output, announced the expected date for the Vasil update as September 22. Cardano creator Charles Hoskinson also confirmed the date, creating excitement in the community.
Another highlight of the past week was the Robinhood listing of Cardano. On Thursday, stock brokerage app Robinhood announced support for ADA, as reported by U.Today. In the same week, Input Output announced its collaboration in blockchain research by funding a new $4.5 million “Blockchain Research Hub” at Stanford University, one of the top centers of research and higher education in the world.
As the community digested the news of the imminent Vasil release, Cardano’s ADA reached a high of $0.51 on September 4, which is expected to improve Cardano and its Plutus contract.
According to readiness metrics monitored by IOG, Vasil node 1.35.3 has produced 87% of mainnet blocks. While Binance was quite close to completing its integration, the MEXC and Bitrue exchanges had indicated Vasil’s readiness. AscendEX, NDAX and Dex-Trade exchanges have also indicated readiness for the upgrade, with others in the process of updating their nodes. Additionally, 70% of DAPs reported a positive result from preproduction testing.