the blockchain Cardano (ADA) is leading in development activity while the Ethereum Layer-2 (L2) network, Based, reached a significant milestone recently, according to data released by cryptocurrency analytics platform, IntoTheBlock, on March 18.
In the cryptocurrency market, the race to surpass established price marks has been fervent and quite intense, with several crypto assets battling to capture investors' attention. However, Cardano (ADA) has been standing out with its excellent growth and development of its ecosystem.
As highlighted by the IntoTheBlock survey, the blockchain Cardano is a leader in development activity among major Layer 1 networks (L1s), consistently delivering the highest number of weekly commits. At the time of publication, the cardano price it was quoted at US$0,6274 with an increase of 7.9% in the last 24 hours.
Cardano is leading in developer activity amongst top L1s, consistently delivering the highest number of weekly commits. pic.twitter.com/gtYUIyeqRy
— IntoTheBlock (@intotheblock) March 18, 2024
Analytics platform IntoTheBlock also noted that on March 16, the Ethereum L2, Base network reached a milestone by surpassing 1 million active addresses, taking first place among Ethereum Layer 2s.
“Although activity has since slowed, this event raises an intriguing question: Is this a glimpse of the future?” the analysis asked.
On March 16th, @base achieved a milestone by surpassing 1 million active addresses, claiming the top spot among Ethereum Layer 2s. Though activity has since decelerated, this event raises an intriguing question: Could this be a glimpse into the future? pic.twitter.com/j9K3sSrKPU
— IntoTheBlock (@intotheblock) March 19, 2024
Cardano Welcomes USDM
With the aim of increasing competition in the cryptocurrency market, the Cardano blockchain is not left behind in welcoming its newest member: the USDM stablecoin, fully backed by fiat currency. This launch marks an inflection point for the Cardano network, which until then had seen a dominance of stablecoins like USDT and USDC on the market, valued at an impressive 146 billion dollars.
USDM, an initiative by Mehen Finance, opened a new phase on March 17, offering a stablecoin option that allows users to mint or redeem coins directly through the US dollar. This new feature distinguishes itself from pre-existing alternatives on the network, such as DJED and iUSD, which are based on algorithms and synthetic in nature, respectively.
