After many years of development, the first projects are arriving on Cardano, including the highly anticipated SundaeSwap. This seems to carry the course of the ADA, which is progressing strongly over the week.
SundaeSwap and the other projects arrive on Cardano
SundaeSwap is a decentralized exchange ( DEX ) particularly expected on Cardano. He just announced the launch of his mainnet on January 20, and it seems to have sparked a wave of enthusiasm for the blockchain.
The beta version of the DEX will be offered in a fully functional way, even if the complete decentralization of the governance is not yet possible, because of the current limitations of Cardano.
Other decentralized finance (DeFi) protocols have also announced their launch on the blockchain, including VyFinance (VYFI) . We also note the arrival of the very first virtual universe of the Metaverse at Cardano: Pavia.io.
Decentralized applications (dApps) are therefore starting to launch on Cardano, which has been struggling until then to show its projects, in the face of long-toothed competitors. In what appears to be a direct consequence, the price of its native cryptocurrency, ADA, has surged in recent days.
ADA price jumps this week
The price of the ADA has just experienced a breakthrough overnight, taking +10% in the space of a few hours. It once again exceeds the symbolic threshold of $1.50 :
ADA Price Progress Since Yesterday – Source: TradingView, ADA/USDT
Over the last seven days, the ADA jumped by +29% . For comparison, Ether (ETH) only takes +4% over the same period, and Solana’s SOL lives on at +2%. This brings ADA up to fifth place in the ranking of the most capitalized cryptocurrencies. Its market cap currently exceeds $48 billion .
Will the Cardano project continue to generate excitement? In recent months, there has been a certain decline, in favor of competing blockchains among the “Ethereum killers”. It therefore remains to be seen whether it will succeed in consolidating its ecosystem to create a real alternative.
