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Cardano (ADA-USD) tokens are climbing about 10% in early morning trading Wednesday following its inclusion in the newly launched Grayscale Smart Contract Platform Ex-Ethereum Fund.
Looking at intraday crypto price action a bit closer, Cardano (ADA-USD +10.4%) is clearly taking the lead among peers, with bitcoin (BTC-USD -0.4%) slipping to $42.2K on light volume and ethereum (ETH-USD +0.2%) edging down to sub $3K. Binance coin (BNB-USD +0.4%), ripple (XRP-USD -0.3%), avalanche (AVAX-USD +0.1%), dogecoin (DOGE-USD +0.3%), wrapped bitcoin (WBTC-USD -0.4%), cosmos (ATOM-USD -1.2%), NEAR protocol (NEAR-USD +1.2%) and Chainlink (LINK-USD +1.4%) are underperforming as well.
Both Solana (SOL-USD) and Cardano (ADA-USD), ether’s largest rivals, make up about 50% of the fund, with Avalanche (AVAX-USD), Polkadot (DOT-USD), Polygon (MATIC-USD), Algorand (ALGO-USD) and Stellar (XLM-USD) accounting for the rest of the fund’s holdings.
Like most cryptos, Cardano (ADA-USD) is well below its record high of sub $3 at the beginning of Sept. 2021, recently changing hands at $1.08, though its total value locked, or how much money is locked in the decentralized finance protocol, recently hit an all-time high of $405.7M, Watcher.Guru wrote in a Twitter post.
Some digital tokens that are firmly in the green so far Wednesday include: terra (LUNA-USD +3.3%), solana (SOL-USD +2.6%), polkadot (DOT-USD +3.8%), shiba inu (SHIB-USD +0.9%), polygon (MATIC-USD +2.4%), litecoin (LTC-USD +1.4%), uniswap (UNI-USD +0.4%) and ethereum classic (ETC-USD +7.8%).
On Tuesday, bitcoin and ethereum rose to multi-week highs.
