Cardano ended November with the highest development activity ADA started December with the highest staked ratio amongst all Layer 1 tokens Leading layer 1 blockchain Cardano [ADA] closed November with a development activity count of 572.67, putting it 18% ahead of the next highest-ranked asset, data from Santiment revealed. Polkadot [DOT] and Kusama [KSM] were […]
While Cardano’s development activity and the quantum of staked ADA rallied, the crypto asset’s market capitalization declined. ADA closed November with a market capitalization of $10.7 billion per data from. This represented a 23% drop from the $13.9 billion market capitalization it recorded at the end of October.
The reason for the decline in market capitalization was not far-fetched. This was due to the unexpected collapse of cryptocurrency exchange FTX, which wiped off massive liquidity from the market in just a few days.ADA, like many crypto assets, struggled to keep their prices up during the FTX debacle. Additionally, CoinMarketCap revealed that ADA’s price dropped by 24% in November.
Further, TVL held on the Cardano network also fell within the 30-day period under consideration. At $58.8 million as of 30 November, data from showed that the quantum of Cardano’s TVL fell by 16%. At press time, the network’s TVL stood at $59.69 million.Subscribe to get it daily in your inbox.
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