- Cardano continues to battle with Ethereum, even in the NFT market.
- Recently, Cardano surpassed Ethereum in floor price.
Cardano’s NFT floor price increase is a testament that there’s always competition in the market. Apparently, Ethereum is the biggest NFT blockchain, and there’s no huge competition for now. But Cardano is doing all it can to present one. The floor price is an essential metric in the NFT market, and surpassing that of Ethereum in that aspect means a lot of things.
Cardano’s NFT Floor Price Increases
- Cardano is one of the crypto blockchains that is always facing controversy from one issue to another. Some epic fights are mainly between the Cardano founder Charles Hoskinson and the Ethereum community. Apparently, these two networks are extending their fight to the NFT space.
- Furthermore, many often refer to the Cardano ecosystem as a ghost blockchain. This is mostly due to its lack of a dynamic DeFi and NFT ecosystem. However, Cardano seems finally up to the task of fighting Ethereum’s dominance in the NFT market. Apparently, one can trace these new improvements to the floor price of each blockchain network.
- Cardano’s NFT floor price is putting up a good fight against Ethereum’s. An NFT monitoring platform named Stocktwits NFTs posted on Twitter (now X) highlighting the growth. It was a 7-days comparison between the two blockchains. Furthermore, the charts showed Cardano had an edge over Ethereum by more than 22%.
- This new development is almost unexpected. Cardano’s NFT floor price surpassing that of Ethereum within 7 days is something commendable. It shows that Cardano might not be a ghost blockchain after all.
Upgrades Helping Cardano’s NFT Floor Price Reach New Heights
- While the new development is good news, one must point to some things that made it a reality. Apparently, Cardano underwent a significant upgrade known as the Vasil upgrade. This upgrade helped to reposition Cardano and improve many of the things on the network.
- The block latency speed and the blockchain’s overall efficiency were among the improvements of the network. It made ADA a lot faster, thereby encouraging the growth in Cardano’s NFT floor price. This is just one of the many benefits of this upgrade.
Ethereum Still Ahead in Many Metrics
- Despite the increase in Cardano’s NFT floor price, the Ethereum blockchain still surpasses it in many metrics. For instance, the daily NFT sales on the Ethereum network are significantly bigger than Cardano’s ecosystem.
- At the time of writing, Ethereum has daily trading sales of more than $10 million. On the other hand, Cardano only has daily sales of a little above $158 thousand.
Conclusion
Cardano is one of the fastest-growing blockchains, and it is not even trying to take a break. Apparently, this crypto network is working extremely hard to touch new levels. One of them is Cardano’s NFT floor price increase. Increasing by more than 22% made sure that the ADA ecosystem was larger than Ethereum’s. Many community members would expect Cardano to continue on their good path.
