Cardano Surpasses Ripple Ahead Of Vasil Hard Fork Update

As the Vasil update date announcement approaches, Cardano has certified outstanding performance over the past week. According to CoinMarketCap data, Cardano (ADA) is currently surpassing XRP in market capitalization. With a market valuation of $17.1 billion, Cardano currently ranks as the seventh largest cryptocurrency, ahead of XRP’s market cap of $16.3 billion.

ADA outperformed the top 10 cryptocurrencies during writing in 24-hour gains. Trading interest in the asset is also highlighted by a 30% spike in trading volumes, with 1.9 billion (1,934,386,014) ADA traded in the last 24 hours.

ADA is up 4% to $0.5. ADA is the week’s top gainer, up 12%. On Friday, Cardano’s creator, Input Output, revealed that the Vasil update is scheduled for September 22. Cardano creator Charles Hoskinson also announced the date, which sparked enthusiasm in the community.

ADA daily chart. Source: CoinMarketCap

Robinhood listing is another highlight from the past week. Robinhood, a stock brokerage app, added support for ADA on Thursday. 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 world’s leading institutions for research and higher learning.

ADA rose to a high of $0.51 on September 4 as the community absorbed the news of the imminent Vasil release, which is expected to strengthen Cardano and its Plutus contract.

Ripple has been surpassed by Cardano on the leaderboard. Source: CoinMarketCap

Next September is also an important month for Ethereum with The Merge. It can be said that the altcoin race is becoming more intense when the performance of XRP, and SOL are also very stable.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.