• The cryptocurrency Cardano [ADA] has experienced an impressive count of more than 500 development activities in the last 30 days, surpassing other cryptocurrencies and taking the lead.
• ADA’s price surged as much as 25% following Ripple [XRP]’s partial victory against the U.S. Securities and Exchange Commission (SEC).
• Cardano founder Charles Hoskinson praised Ripple CEO Brad Garlinghouse and the XRP community on Twitter.
Rise in Development Activity for Cardano
Recent data from Santiment revealed that Cardano [ADA] has successfully surpassed other cryptocurrencies, taking the lead as the blockchain with the highest development activity. Historically, Cardano had held the second position, but in the last 30 days, it showcased an impressive count of more than 500 development activities.
Price Surge Following Ripple’s Legal Battle
On 30 July, the proof-of-stake (PoS) blockchain Cardano launched the stake-based protocol Mithril on mainnet. The blockchain size has shot up to nearly 100 GB since then. ADA’s price surged as much as 25% following the news of Ripple [XRP] securing a partial victory in its legal battle with the U.S. Securities and Exchange Commission (SEC) on 13 July. But it has dropped quite a few cents since then. The U.S. District Court of the Southern District of New York ruled in its judgement that the sale of Ripple’s XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case– although institutional sale did violate federal securities laws according to this ruling..
Charles Hoskinson Praises Brad Garlinghouse & XRP Community
Cardano founder Charles Hoskinson praised Ripple CEO Brad Garlinghouse on Twitter writing: „Well done XRP.“ He also praised XRP community tweeting: „One Small step for XRP Nation, one Giant leap for Cryptocurrencies!“
Prediction for End 2023
I asked ChatGPT to predict the performance of Cardano by end 2023 and it said that price range will hit $5-$6 when we reach August 27th of that year..
Disclaimer
The information presented does not constitute financial, investment, trading, or other types of advice and is solely writer’s opinion.‘