Cardano has reclaimed its spot by flipping Solana. However, it was interesting that the latest flipping was more of a result of SOL’s downtrend than ADA’s performance.
Existing users will get a prompt to update via the Daedalus newsfeed. This update brings in numerous dependency updates – cardano-wallet 2023-04-14, Electron 24.2, Node.js 18.14.0, trezor-connect 9.0.8, and Cardano Ledger JS app 6.0.0. The new update can help attract new users and push the daily address chart, which has plateaued, as per Artemis’ data.A few days ago, Solana gained upward momentum, which allowed the token to flipto become the 7th largest crypto.
However, it was interesting to note that the latest flipping was more of a result of SOL’s downtrend than ADA’s performance. According to CoinMarketCap, SOL’s price declined by more than 5% in the last 24 hours, while ADA’s plummeted by 2%. At press time, ADA wasThough Cardano’s price action looked better than SOL’s, its on-chain metrics remain bearish. For instance, ADA’s volume plummeted sharply, reflecting a lower willingness of investors to trade the token.
Positive sentiment around the token also declined sharply last week. Additionally, after an increase, ’s 1-week price volatility registered a downtick, decreasing the chances of a sudden uptrend in price over the days to follow.
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