Is Cardano Moving Higher Today In Anticipation Of A Coming Wave Of DeFi, Smart Contract Use Cases? – Cardano – United States Dollar ($ADA)

Cardano (CRYPTO:ADA) is up 6.15% at $1.29 in the 24 hours to early Thursday morning.

What is moving? the Ethereum (CRYPTO: ETH) – Competition increased by 4.8% over seven days.

Against ETH, ADA gained 2.8% over 24 hours, while against Bitcoin (CRYPTO: BTC), gained 3.8%.

In the past 30 days, the value of ADA has increased by 5.9%, while over the 90-day period it has decreased by 30.5%.

Since the beginning of the year, the ADA is down 6.8%. The coin touched an all-time high of $3.10 in September. At the time of writing, the ADA is trading 57.7% below this level.

See also: How to buy Cardano (ADA)

Why are you moving? The ADA has moved in tandem with the other major currencies at the time of writing as the global cryptocurrency market cap has increased by 3% to $2.1 trillion.

The ADA was last among the top 10 most mentioned coins on Twitter. It has attracted 2,165 tweets at the time of publication, according to Quintrends data.

The three most mentioned currencies are Bitcoin, Ethereum and Solana. It attracted 11,273, 4,685 and 4,216 tweets, respectively.

Cardano was the second trending bullish indicator on Stocktwits at the time of writing, indicating significant interest from retail traders.

Plutus, Cardano’s smart contract platform, has now been published. Input output – The company associated with Cardano – tweeted that the next phase for Plutus is improvement and expansion.

Cardano Architectural Director John Woods In a Twitter video by Input Output, he said, “Plutus brings Decentralized Finance (DeFi) to Cardano. Plutus allows us to enter into smart contracts on the Cardano platform.”

“We will start to see decentralized exchanges and other DeFi applications launched on Cardano,” according to Woods.

In the meantime, the founder of Cardano Charles Hoskinson Held a session asking me anything on Twitter at the time of posting.

Hoskinson touched on a myriad of topics ranging from Plutos to Blockchain in Africa. Hoskinson has been very exposed to so-called venture capital-based coins and individuals he describes as Ethereum extremists.

read the following: Will Dollar Drop Pave the Way for Bitcoin, Ethereum and Dogecoin to Target the Moon Again?