Cardano’s Competitive Edge
In the ever-evolving world of cryptocurrencies, Cardano’s ADA has recently made headlines by overtaking Litecoin in market capitalization. It’s now teasing Bitcoin Satoshi Vision, depending on how the calculating chips fall. But hold onto your wallets, folks, because things are getting a little murky in the numbers department!
The Great ADA Supply Debate
As of now, ADA is strutting its stuff in seventh place according to CoinMarketCap (CMC) but enjoys a slightly more flattering sixth position on Nomics. The juicy detail? There’s a discrepancy in the circulating supply numbers that could give someone a mild case of the spins if they’re not careful. CMC reports a crisp 25,927,070,538 ADA, while Nomics puts it at a head-turning 31,112,484,646. That’s a hefty five billion ADA difference!
What’s Cooking Behind the Numbers?
So, why the discrepancy? It boils down to how both platforms define circulating supply. Nomics takes into account ADA allocated to the Cardano Foundation, IOHK, and Emurgo. CMC… apparently does not. In fact, the numbers from these comfy organizations add up perfectly to the variance noted. Nifty, right? Worth approximately $590 million, by the way.
Tokens: To Count or Not to Count?
The question still lingers: Should those allocation tokens be included in calculations of circulating supply? This, my friends, depends largely on the delightful world of lockup mechanisms. If IOHK and friends are keeping those tokens under lock and key indefinitely, maybe they shouldn’t be counted. Or, if they’ve started trading them like baseball cards, does that make them fair game? The ongoing debate is just as lively as a crypto Twitter thread at 2 AM!
ADA’s Bullish Spring
Pulling back from the numbers and drama, let’s take a peek at ADA’s performance. The price has undergone a spectacular bull run since Black Thursday. Starting from a humble $0.024 on March 11, it’s skyrocketed to $0.114 — a whopping 475% increase! While it’s still playing catch-up to its all-time high of $1.16 set in earlier days (January 2018, to be exact), the momentum is palpable.
Milestones and Virtual Events
In addition to pricing fireworks, IOHK—Cardano’s development company—has been knocking it out of the park with significant milestones. The Shelley mainnet launch? Check. The introduction of the decentralized identity solution, Atala PRISM? Double-check. Plus, there’s chatter about the potential listing on major exchanges and staking ADA in Coinbase custody — an excellent combo for everyone in the Cardano community. If that weren’t enough, the Cardano Virtual Summit boasted over 10,000 guests, making it larger than some other crypto events. Go big or go home, right?
