Cardano is a “rocket”, not a “ghost chain?”

Sahana Kiran
Source – Unsplash

The crypto-verse isn’t new to name-calling and jabs among the community. Several in the industry suggested that Cardano [ADA] was a mere ghost chain. However, the network has been outperforming its counterparts proving the community wrong.

Stefan Berger, a Member of the European Parliament recently met with the CEO of the Cardano Foundation Frederik Gregaard. Berger has been overseeing Markets in Crypto Assets [MiCA] a crypto framework that governs the industry. Following his recent meeting with Gregaard, he took to Twitter and noted how “Cardano is a rocket in the crypto space.”

Gregaard characterized the German politician as an enthusiastic and active policymaker who was intrigued about the Cardano network. In addition to this, he was committed to fostering the expansion of blockchain applications across the EU.

In addition to this, it was brought to light that Cardano’s daily NFT volume surged by 300 percent. Over the last 10 days, there was a significant increase in volumes. This further prompted the creator of the network, Charles Hoskinson to hit back at critics who previously labeled Cardano a ghost chain.

Cardano bags 11 percent gains

Following immense liquidation, several assets in the crypto-verse were seen bagging gains. Cardano mirrored this sentiment as it had surged by 11 percent over the last 24 hours. At press time, the altcoin was trading for $0.4012. It should be noted that ADA managed to rise to a high of $0.4142 from a low of $0.3629. The ADA community was elevated post this pump.

In addition to its price, the altcoin’s social activity witnessed a rise. Cardano took over the top spot on Lunar Crush among 3,954 other crypto assets in the market.

These metrics further indicated how ADA was steering away from its “ghost chain” label.