Cardano Outperforms Other Crypto Currencies

Cardano ADA had outperformed other cryptocurrencies in terms of development activity over the previous 30 days. This increase in development signaled the possibility of additional upgrades and improvements to the Cardano ecosystem.

Santiment tweeted on December 2, that the internal cryptocurrency ADA topped the list of development activity over the last 30 days.

Along with advances in development activities, the blockchain platform saw some expansion in the NFT market. Multiple Cardano NFT floor prices reportedly hit their all-time highs over the past few weeks, according to a tweet from Stocktwits NFTs.

Having said that, there was a decrease in NFT volume, Cardano’s TVL, and Cardano’s dApps. As for NFT volume, Opencnft statistics showed that in the last 30 days, the volume fell by 50.93% and the number of NFTs sold decreased by 19.35%. While Cardano’s TVL was at $58.62 million and witnessed a decline of 1.37% between 1 and 2 December.

In terms of dApps, Data from DappRadar showed that the network dApps like Miniswap and SundaeSwap experienced a decline in the number of unique active users. In the past week, Miniswap’s number of unique active users has decreased by 20.68%. During the same time period, SundaeSwap saw a 12% decrease in the number of active users.

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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