The market cap of Cardano (ADA) nearly doubled in nine days in February 2021, amidst a growing buying activity from investors during this time. Cardano stood out due to its close relation to Ethereum, as well as a detailed transaction history in its ledger - potentially making this digital coin more secure than others. Compared to both the Bitcoin market capitalization, as well as the Ethereum market cap, Cardano was not as popular.

The dominance of Cardano increased more than four-fold in 2021, although figures in November 2021 were lower than at the end of August. Within the crypto world, this so-called "dominance" ratio is one of the oldest and most investigated metrics available. It measures the coin's market cap relative to the overall crypto market - for instance, it shows how strong Bitcoin is compared to all the other cryptocurrencies that are not BTC, called "altcoins". In the case of Cardano, the dominance somewhat reveals the coin's growing popularity as an alternative to Ethereum, it being a popular blockchain for Decentralized Finance (DeFi) applications.

Detailed Market cap (fully diluted) metrics and analytics for Cardano, including historical data and trends.

Swiss cryptocurrency Cardano (ADA) witnessed a price surge of nearly 100 percent in seven days in early February 2021, amid high interest from investors. One reason for this interest is the digital coin's close relation to Ethereum (ETH), as mathematician Charles Hoskinson co-founded both virtual currencies. Also, like Ethereum, ADA has an open-source format, meaning anybody can develop this currency further. As of March 25, 2025, one ADA token was worth 0.75 U.S. dollars.

Cardano market sentiment became increasingly bullish in November 2021, as is shown in the development of the cryptocurrency's NVT ratio. The Network Value to Transactions or NVT ratio is somewhat comparable to a P/E ratio, in that it compares the number of transactions of a particular coin on a set day against that coin's market cap. A low NVT ratio means that that transaction volume of a cryptocurrency is growing faster than the coin's market cap - meaning investor sentiment is bullish, or optimistic - whereas a high ratio refers to a network that has a relatively high network value but low network activity - meaning sentiment is bearish, or negative.

Cardano is a crypto. Ranked #11, it uses the currency USD and has the symbol ADA. Founded by Charles Hoskinson, it has a market cap of 14.8B $, and the current CEO is Ken Kodama.

Cryptocurrency historical datasets from January 2012 (if available) to October 2021 were obtained and integrated from various sources and Application Programming Interfaces (APIs) including Yahoo Finance, Cryptodownload, CoinMarketCap, various Kaggle datasets, and multiple APIs. While these datasets used various formats of time (e.g., minutes, hours, days), in order to integrate the datasets days format was used for in this research study. The integrated cryptocurrency historical datasets for 80 cryptocurrencies including but not limited to Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Tether (USDT), Ripple (XRP), Solana (SOL), Polkadot (DOT), USD Coin (USDC), Dogecoin (DOGE), Tron (TRX), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), Cosmos (ATOM), Stellar (XLM), Wrapped Bitcoin (WBTC), Uniswap (UNI), Terra (LUNA), SHIBA INU (SHIB), and 60 more cryptocurrencies were uploaded in this online Mendeley data repository. Although the primary attribute of including the mentioned cryptocurrencies was the Market Capitalization, a subject matter expert i.e., a professional trader has also guided the initial selection of the cryptocurrencies by analyzing various indicators such as Relative Strength Index (RSI), Moving Average Convergence/Divergence (MACD), MYC Signals, Bollinger Bands, Fibonacci Retracement, Stochastic Oscillator and Ichimoku Cloud. The primary features of this dataset that were used as the decision-making criteria of the CLUS-MCDA II approach are Timestamps, Open, High, Low, Closed, Volume (Currency), % Change (7 days and 24 hours), Market Cap and Weighted Price values. The available excel and CSV files in this data set are just part of the integrated data and other databases, datasets and API References that was used in this study are as follows: [1] https://finance.yahoo.com/ [2] https://coinmarketcap.com/historical/ [3] https://cryptodatadownload.com/ [4] https://kaggle.com/philmohun/cryptocurrency-financial-data [5] https://kaggle.com/deepshah16/meme-cryptocurrency-historical-data [6] https://kaggle.com/sudalairajkumar/cryptocurrencypricehistory [7] https://min-api.cryptocompare.com/data/price?fsym=BTC&tsyms=USD [8] https://min-api.cryptocompare.com/ [9] https://p.nomics.com/cryptocurrency-bitcoin-api [10] https://www.coinapi.io/ [11] https://www.coingecko.com/en/api [12] https://cryptowat.ch/ [13] https://www.alphavantage.co/ This dataset is part of the CLUS-MCDA (Cluster analysis for improving Multiple Criteria Decision Analysis) and CLUS-MCDAII Project: https://aimaghsoodi.github.io/CLUSMCDA-R-Package/ https://github.com/Aimaghsoodi/CLUS-MCDA-II https://github.com/azadkavian/CLUS-MCDA

The market cap of cryptocurrency Algorand nearly tripled between August and September 2021, and initially continued to grow in November 2021. The rise of the ALGO coin in September was noticeable, as it came in a time when the market cap of Bitcoin and other digital coins was declining. The Algorand coin is similar to Ethereum, Cardano, Solana and Polkadot in that is powers its own layer 1 blockchain, an environment for smart contracts and essential for setting up Decentralized Finance or DeFi projects. The market cap increase in September likely reflects a sentiment that Algorand has the potential to become a new Solana.

In June 2022, Cardano had the highest traded value on Satang Pro, which was one of Thailand's leading exchanges for cryptocurrency or digital assets. Other leading cryptocurrency exchange markets in Thailand also include Zipmex and Z.com.

The staking values of both Solana and Cardano made up around 70 percent of their circulating supply, a percentage significantly higher than for Ethereum. This difference stems from how the cryptocurrencies are created. Ethereum 1.0, similar to Bitcoin, relies on a mechanism called "Proof-of-Work" or PoW, and is similar to mining: Lots of processing power is used to verify transactions on the blockchain and those who do all that verification work — the "miners" — get rewarded with a predetermined amount of crypto. As this process became more energy-consuming and too complicated for individuals to perform — alongside the rapid growth of decentralized finance (DeFi) protocols that demanded even more verifications — another mechanism appeared: "Proof-of-Stake" or POS. Here, people — or "validators" — commit — or "stake" — their own cryptocurrency in an automated system — often a wallet, where people will simply hold their crypto — which at certain times will randomly pick a person who gets to validate a batch of blockchain transactions. Same as before, validation leads to new cryptocurrency as a reward — essentially acting as interest after initial investment. As the amount of crypto needed can be considerable, there are also so-called "staking pools" where groups of people gather the coins needed for — or "delegate" to — an external validator, and still get the rewards. Cardano and Solana only use proof of stake, whereas the relatively new Ethereum 2.0 is also relying on it.

The estimated time with which Kraken would confirm a deposit of certain cryptocurrencies varied from between near-instantaneous to up to several hours. Bitcoin, for instance, could take around 40 minutes - depending on the fees involved - whereas tokens like Cardano or Solana could be handled almost immediately. The transaction speed matters as it indicates which cryptocurrency is more efficient. A higher efficiency means that the blockchain underneath the coin is more capable of transferring data from one party to the other and confirm transactions. Transaction speed can be influenced by several factors, including block time, block size, transaction fees, and network traffic.