Cardano Flips XRP’s Market Cap As Trading Volumes Rise 30%

Data from CoinMarketCap reveals that Cardano has reached a $17 billion market capitalization, making ADA now the seventh largest cryptocurrency, surpassing XRP’s $16.4 billion market cap.

Cardano also gained more investor confidence. In addition there’s some good news about the upcoming Vasil update.

Cardano was outperforming the top 10 cryptocurrencies in 24-hour gains. Trading interest in the asset is also highlighted by a 30% spike in trading volumes, with 1.8 billion (1,891,419,122) ADA traded in the last 24 hours.

Cardano’s Pricing Responds to Good News

ADA has returned to $0.50 and was the most profitable coin in a week. In the past week, ADA has rallied over 16%, the latest surge coming from developer Cardano. Vasil upgrade day last Friday The developer confirmed that the Vasil upgrade will take place on September 22, which makes the crypto world quite exciting.

Another highlight of the past week was Securities trading app Robinhood announcing ADA support. The same week, Input Output Company announced a blockchain research partnership with Blockchain Research Hub, one of the world’s leading research and learning centers.

The ADA price hit a high of $0.51 on September 4 as investors received news of the upcoming Vasil launch.

According to the readiness metrics audited by IOG, the Vasil 1.35.3 node produced 87% of the core network blocks. Meanwhile, the update on Binance is nearing completion. And the MEXC and Bitrue forums have shown readiness for the Vasil upgrade, while the AscendEX, NDAX and Dex-Trade forums and other companies are in the process of updating the node. And in addition, about 70% of the tests in DApps turned out to be positive.