Home Cryptocurrency Cardano (ADA) moves ahead of Polkadot (DOT) with $29 billion staked

Cardano (ADA) moves ahead of Polkadot (DOT) with $29 billion staked

by Serge Shlykov

The data collected by the CryptoDiffer analysis tool shows that Cardano (ADA) is leading the stack. Figures show that users have wagered $28.95 billion on its platform. It successfully markets Polkadot (DOT) and raises $25.43 billion. Pairs make up more than a third of the total stack in the cryptographic domain.

Cardano (ADA) moves ahead of Polkadot (DOT) with $29 billion staked

Source: @CryptoDiffer on Twitter.com

ICOs are over, Ethereum DeFi is exorbitantly priced, and the Token Uncrambled (NFT) craze seems to be waning. But the bet could be an important rebuttal to arguments that crypto is a flash in the pan with no viable long-term future.

Thebet is asustainable Eddie crypto.

Proof of Rate (PoR) is an alternative consensus mechanism to Proof of Work (PoW). Instead of relying on energy-based mining to write blocks, PoS uses a deterministic algorithm to select nodes based on the number of tokens they possess.

In general, the probability of selection is proportional to the number of tokens in possession, so the more tokens in play, the greater the probability that a node will write a block and receive a reward.

Users who wager their chips are rewarded in the form of a wager. It is an easy way to generate passive income. It also strengthens the ecosystem by creating demand and extracting tokens from the circulating supply.

Betting is a safer way to make money than trading and giving money to DeFi. The latter exposes users to volatile losses if the price of a token changes from what was deposited into the pool.

Although the rewards in the form of bets are generally less than other means, it is still easy, regular and with relatively little risk to win in cryptocurrencies.

Cardano leads platforms, but fundamentals no longer matter.

Shelley’s phase brought Cardano in July 2020. Since then, the number of active pools has tripled from 700 pools at the start to over 2,300 today.

The overall ADA rate also increased, from 69% in January to 73% today. Combined with the highest amount wagered on a platform, this shows that users are confident Cardano can deliver.

While this bodes well for the long-term future, Cardano suffered a 26% loss at the $1.04 level during Sunday’s flash crash. A weak recovery hit resistance at $1.32 today, allowing the bears to regain control.

Dogecoin, on the other hand, which had come under fire for its lack of fundamentals and infinite supply, not only recouped its losses within four hours, but has since posted a 30% gain.

An edge in the cryptocurrency market

Get access to more cryptographic insights and context in every article as a paid Edge member.

Chain Analysis

Price overview

More context

Join now for $19 a month Discover all the benefits

Cardano (ADA) moves ahead of Polkadot (DOT) with $29 billion staked

Do you like what you see? Subscribe to updates.

frequently asked questions

Is Cardano a good investment for 2020?

Storm Crypto Cardano-ada…

Will Ada reach $1?

predicting the price of the Cardan-20…

Is Ada an asshole?

Cardano, what… what… what… what… what…?

Related Tags:

cardano newspolka dot crypto price predictioncardano price predictioncrypto newscoinmarketcappolkadot news,People also search for,Feedback,Privacy settings,How Search works,polkadot vs cardano 2021,polkadot and cardano,polkadot vs cardano reddit,polkadot vs cardano vs ethereum,dot v ada,ada cardano polkadot,polkadot vs chainlink vs cardano,dot vs ada

Related Posts