Cardano founder Charles Hoskinson jumped into a Twitter debate about the merits of Cardano’s ADA versus Solana’s SOL. The discussion, sparked by Altcoin Daily, drew a range of responses from crypto investors and traders, with many highlighting the strengths of each altcoin.
Solana or Cardano? 📈$ADA or $SOL?
If you HAD to choose. 🤔 pic.twitter.com/RPOLrOmvR4
— Altcoin Daily (@AltcoinDailyio) September 30, 2024
While some users expressed their loyalty to ADA, others argued that SOL’s recent surge in development activity and growing ecosystem make it a more attractive investment. This difference of sorts in each altcoin kind of highlights the variedness of the altcoin market, where both ADA and SOL are vying for dominance.
Read also: Solana Outshines Cardano: SOL Surges, ADA Lags in 2024
One user whose response caught Hoskinson’s attention revealed that although he had previously interviewed Hoskinson, Solana is the hotter commodity at the moment. Yet another who chose SOL cited the presence of new diverse platforms built on the network, suggesting they have the potential to revolutionize the Solana ecosystem.
Meanwhile, at report time, SOL is trading at a press time price of $145. It bears mentioning that the global cryptocurrency market cap sits at $2.15 trillion, after sustaining a 5% loss over the past day.
As a result, altcoins like SOL have lost 7% of their price value within 24 hours, although monthly gains are still above 10%. ADA gave up 8% of its 24-hour gains, dropping to $0.35. Despite the pullback, it remains the 11th largest cryptocurrency by market capitalization.
Solana and Cardano Records Major Network Growth
Both the Solana and Cardano networks have hit notable milestones in recent times. According to data from DefiLlama, the Solana network’s total value locked (TVL) soared to 36.1 million on September 30th.
On the flipside, Cardano is preparing to unlock 18.5 million ADA tokens; an estimated 0.5% of ADA’s total supply. The tokens, scheduled to be unlocked on October 2nd, are reserved for treasury, funding reserves, and staking.
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