Cardano falls after outperforming BTC, ETH and DOGE
- Posted on June 1, 2022
ADA prices have weakened after the coin outperformed prominent cryptocurrencies like Bitcoin, Ethereum, and Dogecoin
Cardano ADA
At the time of writing, it was down 10.8% in 24 hours at $0.5982. Its price weakened on Wednesday after the coin clearly outperformed prominent cryptocurrencies such as Bitcoin, Ethereum and Dogecoin. Governor
over the course of the past week.
Cardano Price Performance (ADA)
Approximate time% change (+/-)
24 hours -10.8%
24 hours against bitcoin
-7.5%
24 hours against Ethereum
-5.3%
7 days 14.98%
30 days -24%
Year-to-date performance -56.4%
Cardano factor
According to Cointrendz, Cardano is one of the most mentioned coins on Twitter. As of press time, Bitcoin, Ethereum and Solana are the three most mentioned coins.
ADA’s 24-hour trading volume jumped 42% to $2.6 billion, according to CoinMarketCap.
Data from Coinglass indicates that $6.38 million worth of ADA was liquidated as the value of the cryptocurrency created by Charles Hoskinson rose.
ETH-ADA Token Bridge
Norway-based cloud computing platform Iagon announced the launch of its Ethereum-Cardano bridge last week. A beta version of the bridge is available now. The bridge works with Milkomedia, the Cardano sidechain protocol, and the Nomad cross-chain messaging protocol. ADA surged nearly 15% in 7 days.
On Monday, Iagon announced a bounty program for detecting bugs in the bridge’s user interface, which will run until July 15. Rewards up to $1,000 will be paid out in Cardano. Rewards will vary based on the severity of the bug found.
Cardano on the web
Hoskinson claimed in a recent interview that the collapse of Terra Classic (LUNC) and TerraClassicUSD (USTC) should be seen as a nod to Cardano’s slow approach.
“If you move too fast, like we saw with Luna, we’ve seen 10.5 billion hacks last year, you can make it work until it stops working, and then when it stops working, it’s a Catastrophic failure, etc., Hoskinson explained, as reported by CoinDesk. The world will lose its money.
ADA prices have weakened after the coin outperformed prominent cryptocurrencies like Bitcoin, Ethereum, and Dogecoin