Cryptocurrency Cardano听(ADA)听is now more valuable than Coinbase.听
ADA鈥檚听market capitalisation of $49 billion is $1.5bn higher than that of the crypto exchange, which is listed on New York鈥檚 NASDAQ.听
It is also more valuable than听online gaming platform Roblox听and听only听trails telecommunications giant Vodafone by $2.5bn.听
A report from听Finbold听examined the popularity of听ADA.听听
鈥淏esides Coinbase, ADA is a relatively new asset听[compared with listed companies],鈥� the report said.听听
鈥淔urthermore, although ADA has a significant market compared to the selected companies, some institutions have an upper hand as they manage assets equivalent to trillions of dollars.听听
鈥淗owever, the market cap figure highlights the cryptocurrency’s tremendous journey since launching.鈥�听
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The asset has听recorded听an influx of capital, surging听750%听from the start of the year听with the backing of several millionaire investors.听
Its price has reflected wide-scale blockchain adoption. For example, the Cardano network听signed a deal with the Ethiopian government to streamline the country鈥檚 education system by helping teachers and students share resources to improve performance.听听
ADA is also finding its way into the payment sector after Maltese property company听Dreamflats听rolled payments in the crypto for rental contract payments.听听
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Cryptocurrency