- Ethereum price has surged drastically recently.
- Consequently, the ETH price spike has significantly taken its gas fees higher.
- Cardano is about to launch Mary protocol.
- The upgrade will let Cardano become a competitor of Ethereum.
Ethereum gas fees are at their highs. Moreover, ETH price has increased drastically since last year. This said, a number of competitors, including Cardano, are already looking to dethrone Ethereum.
The upward surge in the Ethereum price is seen to be a key factor that has influenced the ETH gas fees. Also, Ethereum has enjoyed a lot more advantages from the DeFi market. This is because a lot of DeFi projects are mainly created via the Ethereum network. Specifically, the DeFi market is seen to have played a major role in the Ethereum price spike.
Consequently, despite Ethereum’s price spike, Cardano (ADA) has also shown great potential this week. Due to its current performance, ADA now sits as the third-largest digital coin in the crypto market.
Cardano’s price has surged to almost over 2,000% a year today. Just last month, its price surged overwhelmingly to about 300% in addition.Furthermore, Cardano is set to launch its new protocol called Mary today, March 1. The platform upgrade will strengthen Cardano’s network performance against its competitors. Also, the upcoming protocol will let Cardano become a competitor of Ethereum. According to CoinGecko, Cardano’s (ADA) price is $1.28 with a 24h volume of $12,992 at the time of writing.
This article first published on CoinQuora -Latest Cryptocurrency and Blockchain News.