Cardano flag now on mount Everest as ADA price rises by 4%

Cardano founder Charles Hoskinson has applauded the community’s devotion as the Cardano (ADA) flag reaches the pinnacle of Mount Everest. “We got marketing,” IOHK CEO adds, complimenting Cardano’s robust community. “It now has three million members and is growing.” Receiving the same event was ADA recovered, reaching highs of $0.613 on May 16 after three days in the green.

The project’s subreddit is reaching 700,000 followers, according to the Cardano Insights Twitter account. Cardano now has 937 projects under progress, an increase from 925 earlier.

Cardano has just published 84 projects, bringing the total number of NFT projects to 5,549 projects. Cardano native tokens have also climbed to 4.7 million, according to the most recent IOHK numbers.

ADA is the best performing cryptocurrency from earlier this week in the top 10. The coin is up 11.9% on the 3rd Monday of this month. It dropped to lows of $0.39 in the past week as the crypto market experienced a sell-off. ADA recovered, reaching highs of $0.613 on May 16 after three days in the green. ADA is currently losing ground after gaining over 4% during the day. Cardano was trading at $0.568 at the time of publication after hitting in Monday highs, according to CoinCu data.

Santiment saw increased whale activity for the seventh-largest cryptocurrency over the weekend, which was reflected in the three-day rally.

According to DefiLlama statistics, the Cardano DeFi ecosystem has received roughly $20 million in additional funding since May 13. This may be seen in the increase in total value locked (TVL) from around $118 million on May 13 to $144 million on May 16. Cardano’s total value locked has decreased by roughly 5.6% in the last 24 hours.

Without the inclusion of staked governance tokens in TVL valuation, Cardano’s TVL stands at about $174.74 million. While the increase might seem insignificant, Cardano’s TVL (staking included) has steadily declined since peaking at $434.74 million on March 28.

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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