According to data provided by cryptocurrency analytics platform Artemis, Solana is absolutely crushing Cardano in terms of user adoption.
In fact, the former has 126 times as many daily active actresses as Cardano.
This is despite the fact that these chains were once pitched as equally competitive "Ethereum killers."
On Sept. 7, Solana recorded 4.6 million daily active addresses. For comparison, Cardano pales in comparison to Solana with an infinitesimal 31,700 addresses.
Solana, of course, is also way ahead of Cardano in other metrics. On Sept. 7, it managed to generate 35 million transactions compared to Cardano's measly 53,400.
On top of that, Cardano is lagging behind in terms of total value locked (TVL) and DEX trading volume.
As reported by U.Today, Cardano recently experienced a surge in trading activity. This could be an indicator of a future price spike.
That said, the blockchain’s fundamentals remain extremely poor despite the recently successful launch of the Chang hard fork, which brings decentralized governance to the network.
Solana (SOL) and Cardano (ADA) are currently valued at $60 billion and $12.2 billion, respectively, according to data provided by CoinGecko.
Earlier this year, the Solana ecosystem benefited from renewed interest in meme cryptocurrencies. Pump.fun, a Solana-based meme coin generator, has become one of the biggest success stories of the year. In late August, it managed to top a whopping $100 million in total revenue. Meanwhile, Solana-based dogwifhat (WIF) remains the fourth biggest meme cryptocurrency by market cap.
Arman Shirinyan
Godfrey Benjamin
Dan Burgin