Over $ 30 billion in ADA has been committed to the platform amid investor excitement
This is an important milestone in the development of the Cardano network that could pave the way for wider network adoption and a significant price hike for ADA itself.
According to the latest recorded data, more than $ 30 billion was staked to ADA after Cardano launched its first Alonzo smart contract test network on May 27, along with IOHK confirmation that Alonzo is now available, the latest.
More specifically, about 71.7% of ADA’s circulating supply, which totaled about $ 31 billion at market prices, is used in 2,665 active pools with 671,403 participating wallet addresses. ADA is currently trading at $ 1.32.
Cardano remains the most capitalized coin in terms of staking value. The data shows that the total value of keys stored in Ethereum (ETH) Eth2.0 contracts will lag well behind ADA if it stays at $ 12.2 billion.
The main driving force is investor confidence in ADA, which, looking back on the recent bull cycle, is greater than ever. Most coins are profitable to varying degrees, but the explosive rally of Cardano (ADA) alone created 6,710 new millionaires.
Combined with events that are constantly being “ignited” by the legacy of the Ethereum blockchain, such as: a real war between the two most powerful forces in the cryptocurrency market.
Typically, “Big Boss” Cardano pointed out the greatest weakness of ETH 2.0 as well as a shot for Ethereum with Cardano (ADA), which is about to support ERC20 in the testnet, which inspires investors every time Cardano new products on the market and has the ambition to become one “killer“Ether.
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Source: Coin 68