Cardano (ADA), the ninth largest cryptocurrency, is now ranked in the “A” category of Weiss Crypto rating. Cardano (ADA) is the second altcoin in the category, only accompanied by Ethereum (ETH) and Bitcoin (BTC). The ADA price tripled in 30 days while the DeFi TVL reached record highs.
Cardano (ADA) joins BTC, ETH in Weiss Crypto elite club
Cardano (ADA), the core native cryptocurrency of the eponymous blockchain, celebrates its “A” category appearance in Weiss Crypto ranking. Only Bitcoin (BTC) and Ethereum (ETH) had been labeled by this status before. The updated ranking was released yesterday, Nov. 22, 2024.
The overall ranking for Cardano (ADA) is A. The project received A- for Technology/Adoption grade (“Good” adoption and “Excellent” technology) and B for Market/Performance grade. As per Weiss Crypto observers, the Cardano (ADA) price showcases “Good” risk and momentum.
Algorand (ALGO), Avalanche (AVAX), Celestia (TIA), Pendle (PENDLE), Solana (SOL), Dogecoin (DOGE), Render Token (RENDER), XRP, Stellar (XLM), Arbitrum (ARB), Chainlink (LINK), Fantom (FTM), Litecoin (LTC), Tron (TRX), Toncoin (TON) and ZCash (ZEC) were labelled as B-category cryptos in the newest ranking.
Arpa (ARPA) and Veracity (VRA) dropped to D-category ranking.
As covered by U.Today previously, Cardano (ADA) might be among potential candidates for spot ETF approval in the U.S.
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Analyst Nate Geraci claimed ADA and AVAX would join XRP and SOL in the altcoin ETFs race.
Cardano (ADA) hits all-time high in major DeFi metric
In the last 30 days, the ADA price witnessed impressive growth. Cardano (ADA) jumped from $0.33 to an unbelievable $1.1 per coin. The net ADA capitalization touched $40 billion.
Cardano’s (ADA) price absolute high occurred in September 2021 when ADA soared over $3. At the same time, for the Cardano (ADA) DeFi ecosystem, this cycle already smashed through all records.
The total value locked across all Cardano’s DeFi protocols hit a new ATH today at $621 million in equivalent, DefiLlama says. Almost half of this sum is locked in Liqwid and Minswap, two dominant Cardano DeFis.
Liqwid, Lenfi and Indigo are the fastest-growing Cardano DeFi protocols.
Source: https://u.today/cardano-ada-jumps-to-top-section-of-weiss-crypto-ranking