Cardano and Solana Outperform Top 10 Cryptos in Weekly Gains as Market Recovers


Influx into the Solana EcosystemEthereum dApps are now available on Cardano. turn

According to CoinMarketCapCardano (ADA) price is up more than 29.47% since last week, outperforming the rest of the top 10 largest cryptocurrencies by market cap in weekly gains. Ethereum killer Solana also leads with a weekly gain of 23.07%, lagging behind Cardano in the past seven days.

Data source: CoinMarketCap

Cardano continued its positive run from lows of $0.77 on March 14 to reach intraday highs of $1.22 at time of publication. At the time of writing, ADA switched hands for $1.21, up 2.46% in the past 24 hours per CoinMarketCap data.

The entire cryptocurrency market is now in a recovery mood, with Bitcoin’s price recently hitting its multi-month high of $48,240 on March 28.

Influx into the Solana Ecosystem

According to data from Digital wealth management company CoinShares, Solana-based institutional investment products posted record inflows of $87 million in the past week.

Solana has now raised a total of $241 million in assets under management, making it the fifth most popular cryptocurrency among institutional investors.

Solana is trading at $111.58 at the time of writing, up 5.51% on the day.

Ethereum dApps are now available on Cardano. turn

The Milkomeda Foundation has announced the debut of C1, an Ethereum Virtual Machine-compatible sidechain directly connected to the Cardano blockchain.

Users can now effortlessly move assets between the two blockchains, allowing popular Ethereum-based decentralized apps (dApps) to function on top of Cardano. This is achieved using Milkomeda’s packaged smart contracts technology, which has just been pioneered.

In February, the Milkomeda Foundation announced a partnership with Nomad, an interoperability protocol, to make it easy to bridge assets from the Ethereum network. The bridge between Cardano and Ethereum was launched in testnet mode later that month.

Leave a Reply

Your email address will not be published.