data, Cardano is currently outpacing XRP in terms of market capitalization. With a present market valuation of $17.22 billion, Cardano now ranks as the seventh largest cryptocurrency, ahead of XRP's market cap of $16.4 billion. Cardano continues to gain traction following positive news regarding the incoming Vasil updates, exchange listings and positive investor sentiment.
At the time of publication, Cardano was outperforming the top 10 cryptocurrencies in 24-hour gains. Trading interest in the asset is also highlighted by a 30% spike in trading volumes, with 1.8 billion ADA traded in the last 24 hours.Cardano's native asset, ADA, is presently trading up 6.84% at $0.50. ADA remains a top gainer for the week, up 12.39%. On Friday, Cardano's developer, Input Output, announced the expected date for the Vasil update as Sept. 22.
Cardano's ADA nudged higher to reach a high of $0.51 on Sept. 4 as the community digested the news of the impending Vasil release, which is anticipated to bring improvements to Cardano and its Plutus contract.According to the readiness metrics being monitored by IOG, the Vasil node 1.35.3 has produced 87% of the mainnet blocks. While Binance was significantly closer to completing its integration, MEXC and Bitrue exchanges had indicated Vasil's readiness.
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