Cardano ADA a Top Gainer of the Week

by in Cryptocurrency News

Cardano ADA price

Over the last 24 hours, the total crypto market cap increased by around 3% and now stands at above $1.3 trillion. After nine consecutive weeks of losses, Bitcoin price went above $31,600 again. Ether trades at above $1960.

Related: Hodlers increased their holdings in Cardano since the start of 2022

The Cardano blockchain's ADA coin is among the biggest gainers of this week. In the last seven days, the ADA price grew by about 27.8%. Currently, the coin trades at around $0.6. It is the 6th largest cryptocurrency with a market cap of over $22 billion.

A few days ago, Cardano announced that a network upgrade, the Vasil hard fork, will take place in June. It will present consensus-specific upgrades, improving blockchain operations and its smart contract, Plutus. Last week, the Cardano team deployed a closed Vasil testnet to evaluate the functionality of a few dapps and users.

According to data from DeFi Llama, the total value locked in Cardano's smart contracts grew by 32% in a day, hitting $156 Million.