Cardano in the fast lane
- If you take the total value, Cardano has now replaced Polkadot as the largest proof of stake network
- Correction also seems to be over - is things now looking up?
Polkadot has always been the largest Proof of Stake (PoS) network. Last week, however, there was a change here for the first time: While 61,4 percent of the amount in circulation was struck in the Polkadot network, the value at Cardano was in the area of 69,5 percent. That means, 6,68 billion US dollars were struck - or rather: 21,75 billion ADA. Polkadot was worth $ 5,89 billion. The numbers were published by Staking Rewards.
Just behind were Ethereum 2.0, Synthetix, EOS, Algorand and Tezos. Cardano has - as confirmed by Charles Hoskinson on Twitter, among others - managed the "flipping". "Cardano is now not only the most secure, but also the largest PoS network," said Hoskinson.
If you look at the beginning of the year, the Cardano price was 0,18 US dollars. On January 7th it went towards 0,35 US dollars; shortly before the January 10 correction, it was trading at $ 0,33. On Monday, January 11th, this was followed by a drop towards US $ 0,24. For a few hours now Cardano seems to be on the up again - it is back above 0,30 US dollars.
It looks like Cardano will be able to continue the uptrend. Within a year, the crypto currency was able to post an increase in value of 750 percent; in the last 30 days the increase was 99 percent.
Cardano is repeatedly traded as an alternative to Bitcoin and Co. because the price is currently very cheap and there is enough room for the all-time high (1,18 US dollars; established on January 4, 2018).