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HomeCrypto NewsMarketReport Shows Cardano Price Outperforms Market with 127% YoY Gain, TVL Explodes 645%
Report Shows Cardano Price Outperforms Market with 127% YoY Gain, TVL Explodes 645%
DATE:
FEBRUARY 15, 2024
WRITTEN BY:
ABDULKARIM ABDULWAHAB
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Cardano ADA
Cardano ADA
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A new report from leading data analytics platform Messari shows Cardano (ADA) beats the overall market with a 127% gain in late 2023, with explosive TVL growth of 645%.
Messari recently published a comprehensive report outlining the status of Cardano by the conclusion of the final quarter of 2023. The report highlights positive metrics across various domains for Cardano, including ADA’s price, total value locked, and stablecoin valuation.
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Messari first noted that Cardano is a seven-year standing proof-of-stake blockchain featuring smart contract capabilities, providing dApps with scalability, security, and sustainability.
ADA Price Gained 145.2% YoY
Per the report, Cardano registered a quarter-over-quarter (QoQ) growth of 127.2%, which surpassed the overall market’s 53.8% increase. This fourth-quarter rise elevated ADA’s year-over-year (YoY) change to 145.2%.
Moreover, the report highlighted that network revenue in dollars experienced a 66.7% QoQ increase.
However, it pointed out that this growth was not solely attributable to ADA’s price movement, as revenue in ADA tokens also saw a 10.6% QoQ increase.
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Cardano price and network revenue chart Messari
Cardano price and network revenue chart Messari
Notably, Cardano’s Treasury balance expanded by 2.6% from the previous...https://www.binance.info/en/activity/referral-entry/CPA?ref=CPA_00W9FZGMZR
