Read full article at Crypto News.

/p>

At 11:23 UTC, Cardano’s native token ADA was down by 5% over the past 24 hours, and more than 16% over the past 7 days. By comparison, Ethereum’s ETH token was down by 3% for the day, and almost 11% in a week. ADA is the second-worst performer among the top 10 coins today.

ADA has managed to maintain its position as the third most valuable cryptoasset by market capitalization, well ahead of tether (USDT), binance coin (BNB), and solana (SOL) – another serious contender in the smart contracts field.

ADA price chart:

Source: Coingecko.com

The losses for ADA seen over the past few days come after several users of the Alonzo public testnet earlier this week reported problems with using the first-ever decentralized exchange (DEX) on the platform, Minswap. The problems, described by Cardano as a “concurrency issue,” reportedly made it impossible for some users to make any swaps on the DEX.

Perhaps not surprisingly, the news of the swap issues was widely shared in Ethereum circles in particular, with the writer of the Ethereum-focused newsletter The Daily Gwei, Anthony Sassano, calling it a “fundamental issue” of Cardano. 

Despite the difficulties experienced during public testing, however, Cardano development firm Input Output has confirmed that the Alonzo upgrade – which introduces smart contracts on the platform – will happen on September 12 at approximately 21:44 UTC as planned.

Warming up the upgrade, Input Output has also compiled a growing “Essential Cardano List” that seeks to map out the entire Cardano ecosystem. Among other things, the list includes new projects such as Cardano-only non-fungible token (NFT) collections, NFT building tools, decentralized exchanges (DEXs) and blockchain games.

Meanwhile, the major crypto exchange Binance on Thursday announced its support for the Alonzo upgrade. The exchange said that deposits and withdrawals of ADA will be suspended minutes ahead of the network upgrade, and that it will be reopened again once the upgraded network is deemed stable.

Trading of ADA tokens on the exchange will not be affected, Binance further added.
___
Learn more: 

– 6YO Cardano Still Compensates Lack Of Adoption With Plans & Hopes
Ethereum Needs to Try Harder To Keep Its Dominance in a Multichain Future
Cardano’s Hoskinson Keeps Bashing Ethereum As ADA Outperforms ETH 

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency

Categories:

Tags:

Comments are closed

Translate

Our Other Projects

EdgyBranding.com - Premium Domain Names.

Notezi.com - Social Network

ParisArtwork.org - Mid-century Paris NFTs, tokenized on the WAX blockchain.

NewYorkArtwork.org - Mid-century New York NFTs, tokenized on the Ethereum blockchain and offered on Rarible.

ClassicAutomobile.org - Classic Automobile News.