Bitcoin

Cardano’s ADA is cryptocurrency number 6 or 7 by market cap, depending on who creates the account

Cardano’s ADA recently outperformed Litecoin (LTC) in market cap. Depending on how the metric is calculated, you may also have surpassed Bitcoin Satoshi Vision (BSV).

BCH, BSV, ADA  LTC

BCH, BSV, ADA and LTC. Source: CoinMarketCap

How many ADAs are there outside?

Cardano’s ADA is cryptocurrency number 6 or 7 by market cap, depending on who creates the account
Cardano’s ADA is cryptocurrency number 6 or 7 by market cap, depending on who creates the account

At the time of writing, ADA is seventh in CoinMarketCap or CMC, while Nomics is sixth, just ahead of BSV. The controversy comes from circulating care: CMC reports 25,927,070,538, while Nomics has the number of 31,112,484,646. This represents a discrepancy in ADA of five billion. Blockchair, a blockchain search and analysis engine, matches the nomics number.

Nick Gauthier, CTO of Nomics, noted that the difference is due to the fact that his company includes the ADA tokens assigned to the Cardano Foundation, IOHK, and Emurgo in circulating care, while CMC does not appear to do so. According to a cached copy of the Cardano Foundation website, the three companies received 648,176,761, 2,463,071,701 and 2,074,165,644 ADA tokens. These numbers add up to 5,185,414,106, exactly the difference between the amount reported by different data providers. Based on the current ADA price, these tokens are worth around $ 590 million.

Do the tokens assigned to the company count?

The question remains whether these tokens should be included in the circulation supply. This should probably depend on the possible safeguards for the remaining tokens of these organizations. Some of the tokens are said to have been issued and have therefore become part of the circulation offer. The updated version of the website contains no information about the distribution of the tokens.

Cointelegraph contacted IOHK to clarify the matter, but did not receive a response in time for publication.

ADA bull run in spring

The ADA bull run in spring. Source: Nomics.

ADA Bull Run in spring

Regardless of the problem with circulating care, ADA was on a noticeable upward trend after Black Thursday, March 11th. At this moment the ADA price was $ 0.024; At the moment, it is $ 0.114. The difference corresponds to an appreciation of 475%. It is still well below its all-time high of $ 1.16 set in January 2018.

IOHK, Cardano’s development company, has reached several important milestones and public announcements during this time. The biggest news was the launch of the Shelley core network. Almost simultaneously, Atala PRISM was introduced as a decentralized identity solution. There has also been news that ADA holders can play their coins during Coinbase detention, and there has been speculation about the likelihood that they will be listed on the stock exchange in late 2020.

This dynamic also comes immediately after the Cardano Virtual Summit. According to Charles Hoskison, it was larger than Consensus and had over 10,000 guests.

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