The crypto world is full of coins simply trying to surpass one another. For instance, you might have heard of two popular meme tokens, Shiba Inu and Dogecoin, battling one another for dominance in this ever-changing market. Well, the same goes for both Cardano and Solana, two leading competitors for Ethereum with smart contracts.
When both cryptocurrencies were introduced in the market, enthusiasts were thrilled because both offered unique capabilities that ensured the crypto space was diversified. However, it appears that only Solana’s blockchain is busy with developments, while there’s not much going on with Cardano since it released its smart contracts capabilities.
That said, the silence makes sense at this point because Cardano released its smart contracts capabilities only a few months ago, if not less, and the team will need some time to make the necessary tests and fixes on the blockchain.
As a result, Cardano is falling behind quite a bit against its competitors, but it’s undoubtedly still a strong contender in the space. In fact, Cardano is still the second leading platform for smart contracts, though Solana has undoubtedly taken the top spot for that now.
For several months, Cardano was able to maintain its position at 3rd place on the top 10 crypto projects by market cap. However, it was pushed out by BNB only recently—last month to be exact. This was mostly because of the run-up around August, which had ADA’s price soaring past $3 billion for the very first time.
That said, the trends and data posted recently don’t seem to be pointing in Cardano’s favor. After falling to $2, the coin hasn’t seen much significant movement. Solana, on the other hand, has had a profitable time during the last few months, especially when it launched its decentralized finance (DeFi) marketplace. This feature has only made the asset even more popular, ultimately boosting its value as a result.
In fact, Solana broke another all-time high record last Thursday, reaching a market cap of $72 billion. As you can see, Solana’s increase is significantly higher than Cardano’s, with the former crypto taking the 4th spot on the crypto top 10 while Cardano fell back to 6th place.
In terms of decentralized finance, Solana is three steps ahead of Cardano—the difference is so vast that you can’t even compare. The Solana blockchain has been hustling and bustling for the past few months, its ecosystem in full bloom and ready for more capabilities.
The crypto community is still high expectant of Cardano and its capabilities, but for now, Solana is undoubtedly the better choice between the two.
