With a market valuation of $28.68 billion, Cardano (ADA) has claimed the 9th position in cryptocurrency market capitalization, surpassing Avalanche (AVAX). Despite recent inflows into its ecosystem, the coin beat Avalanche’s $22.28 billion to attain the title of 9th largest coin.
As the value of Cardano’s ecosystem has skyrocketed, so too have funds flowing into it. From roughly $1.7 million in mid-January to a present-day total value locked (TVL) up at just under $315 million – or a 18420% increase.
The Cardano team has entered the third phase of its construction, a process known as Basho, the Cardano’s next era after Alonzo. Cardano plans to release Hydra, a collection of Layer 2 solutions, as part of this phase. In this stage, Basho will update Cardano’s security and scalability.
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The first Hydra Heads have opened on the public Cardano testnet, and it is an exciting moment for this scaling journey. As a result, the protocol can be vital in ensuring that there ..
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