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Cardano (ADA) Surpasses Binance Coin (BNB) with $82 Billion Market Cap

Published on Nov 3, 2021 at 4:03 AM Updated on Nov 6, 2021 at 7:31 PM

Cardano (ADA) Surpasses Binance Coin (BNB) with $82 Billion Market Cap

BNB has lost around 15% of its value since last week.
While the market was in a downturn, Cardano (ADA) gained pace.

Cardano (ADA) saw a 10 percent increase in value in a single day. Cardano has overcome Binance Coin, which has a market capitalization of $ 82 billion, to claim the third position on SafeTrading’s ranking of cryptocurrencies by volume traded.

While the market was in a downturn, Cardano (ADA) gained pace. However, ADA reversed the upward trend while Bitcoin and Ethereum remained in a holding pattern. As a result, ADA, which was riding the bearish trend of the Binance Coin, ended third.

With Alonzo, Cardano (ADA), thrust into the limelight. Alonzo was made available to the public on September 12th. Charles Hoskinson, the CEO of the IOHK, said that all work had been completed successfully. On the other hand, Hoskinson pointed out that numerous passages deal with the Alonzo update in process, slandered.

Once the Alonzo update, fully implemented, the Cardano network will be perfectly interoperable with the smart contract service provided by Ethereum. As a result, the Cardano network anticipates further expansion. Furthermore, the ADA is one of the most popular cryptocurrencies among investors due to its excellent crypto signals generated during a period of consolidation in the market.

BNB Still Has a Bullish Momentum

By trading volume, Binance Coin (BNB) of Binance exchange, the world’s largest cryptocurrency exchange, is following the market’s downward trend.

Although BNB has lost around 15% of its value since last week, it has not lost its upward momentum. BNB reached a high of $690 around four months ago. According to CoinMarketCap, the Cardano (ADA) price today is $1.98 USD with a 24-hour trading volume of $2,473,068,443 USD.

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Mohamed Faisal

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.