Cardano Market Cap has More than $10 billion Inflows in just 7 days

As Cardano token’s ADA maintains its steady bullish this week, long beyond the targeted $1 price level, its market capitalization has risen by more than $10 billion in only seven days.

Cardano’s ADA is bullish now

According to CoinMarketCap statistics, Cardano had a market cap of $39.9 billion at press time, up over 37% from one week before.

The largest Proof-of-Stake network’s market cap has increased by $10.75 billion in only seven days, making it the seventh-largest cryptocurrency.

According to CoinMarketCap data, ADA is presently trading at $1.19, up 9.55% in the previous 24 hours and 40.36% compared to seven days ago.

Cardano’s Total Value Locked (TVL) has also been gradually increasing since January 21, reaching $318.18 million on March 24. According to Defi Llama, it has increased by 1.62% in the previous 24 hours.

The network has scheduled a hardfork for the summer of 2022, with the goal of expanding the protocol’s transaction, volume and liquidity.

The Vasil hardfork, named after Hungarian mathematician Vasil Dabov, who was also a Cardano community member, is scheduled for June 2022 and will introduce diffusion pipelining.

Cardano’s researcher Matthias Fitzi explained the concept in the blog post that “the recent enabling of smart contracts on Cardano has led to a significant increase in user activity,” as well as the growth of “average transaction sizes.”

“To keep up with this elevated demand, the system’s current transaction throughput must be increased,” he added.

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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