Cardano Outperformed Litecoin by Capitalization

Kataryna Kovtun July 9, 2020

BitXmi.Com

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Cardano (ADA) is taking new heights, while Bitcoin is stuck at $ 9300 and stagnating for several weeks.

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Over the past 24 hours, the increase in the cost of altcoin amounted to more than 30%. Cardano was able to break into the first seven largest digital currencies. It bypassed Litecoin (LTC) in terms of capitalization and moved it to the eighth line of the CoinMarketCap rating.

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Cardano capitalization in the evening, July 8, reached $ 3.288 billion. Altcoin for a short time even climbed to the sixth line of the rating, bypassing Bitcoin SV. ADA is now at around $ 0.126, the highest since the beginning of August 2018.

What is the Reason for the Growth of Cardano?

According to BitXmi analyst’s opinion, the growth in investment in ADA was a direct result of preparations for a major upgrade of the Cardano network.

It’s about activating Shelley software. In the cryptosphere, many compare it to the launch of an updated version of the Ethereum blockchain ETH 2.0. Read more about it here.

Shelley activation is expected before the end of July, which will strengthen the decentralization of the network. Active trading of altcoins is ongoing on trading exchanges.

Investors stock up on coins before an updated version of the network comes out. This will allow ADA to reach a new high by the end of the week.

The ADA token is available on the BitXmi cryptocurrency exchange paired with USDT, BTC, ETH. Register now on our exchange and earn on high volatility of the cryptocurrency rate.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi’s role is to inform the cryptocurrency and blockchain community about what’s going on in this space. Please do your own due diligence before making any investment. Bitxmi News won’t be responsible for any loss of funds.

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