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Cardano – This is how bullish the Ethereum competitor is

Cardano has only been smart-contract compatible since September of this year. But the Ethereum competitor can already celebrate successes.

  • Ethereum competitor Cardano (ADA) is making up ground at the protocol level these days. Within a year, the total number of active addresses grew from 103,606 to 121,148 – a growth of 17 percent.
  • The increased user interest is probably due to the growing possibilities to use ADA also in the DeFi area.
  • Since the Alonzo upgrade in September of last year, the network has been Smart Contract compatible.
  • Cardano is also keeping pace with smart-contract flagship Ethereum in terms of NFTs. Rapper Snoop Dogg, for example, recently launched his NFT collection on Cardano.
  • As analytics portal Santiment writes, “investor sentiment toward ADA is currently more positive than it has been since mid-November.”
  • Compared to industry leader Ethereum, however, Cardano is still small fry. According to data from Defi Lllama, ETH has $115 billion in DeFi logs. For Cardano, the figure is just $220 million.

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