- Crypto Analytics platform Messari reported that Cardano is aggressively priced for Vasil upgrade.
- Messari also revealed that Cardano is behind SOL, XTZ, and NEO in daily transactions.
- Earlier, the IOHK team tweeted that its Vasil mainnet upgrade was in progress.
Data from crypto research platform, Messari shows that Cardano (ADA) hovers at a more aggressive price, pulling its position behind Solana, Tezos, and NEO in the daily transaction metrics.
In detail, Cardano’s price is overvalued compared to its adoption metrics, making its Total Value Locked (TVL) dip.
Among the growing ecosystems, @Cardano is priced more aggressively.
— Messari (@MessariCrypto) August 8, 2022
With the “aggressively priced” term, Messari depicted that Cardano is fixing value at a high point in the context of its Vasil upgrade. With that said, Messari points out that Solana overtook its main competitor– Cardano– in major fundamental metrics.
To shed light, the data from Messari reportedly intensifies the “talk” on entrepreneur Mark Cuban’s recent remark on Cardano. He said that Dogecoin has more use cases than Cardano and the team has failed to imply any relevant changes since the launch of smart contracts in September 2021.
This remark has led to some Twitter discourses, where Dan Gambardello, Crypto Capital Venture founder invites Cuban to his Twitter chat.
At present, Cardano trades at $0.5357, with a 4.45% surge in the past 24 hours and a market cap of $18,080,520,256. Notably, Cardano and Solana are in seventh and ninth positions in terms of market capitalization.
However, the report comes on the heels of the much-awaited Vasil upgrade. In June, the IOHK team behind Cardano tweeted that they had submitted an updated proposal to the hard fork, the Cardano Testnet.
Also, the team had said that Vasil mainnet will strengthen the scaling capabilities on the Cardano network, which will be available on Cardano’s test network.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of Coin Edition. No information in this article should be interpreted as investment advice. Coin Edition encourages all users to do their own research before investing in cryptocurrencies.