Cardano (ADA) Joins BTC, ETH in Weiss Crypto Elite Club

Cardano (ADA), the core native cryptocurrency of the eponymous blockchain, celebrates its "A" category appearance in Weiss Crypto ranking.

Cardano (ADA) has joined Bitcoin (BTC) and Ethereum (ETH) in the elite "A" category of the Weiss Crypto rating, marking a significant achievement for the ninth largest cryptocurrency. This ranking is based on a combination of factors, including technology, adoption, market performance, and risk assessment.

According to the latest update from Weiss Crypto on Nov. 22, 2024, Cardano (ADA) received an overall grade of "A". Breaking down the grades further, the project received an A- for Technology/Adoption ("Good" adoption and "Excellent" technology) and B for Market/Performance, which includes "Good" risk and momentum in the ADA price performance.

The new ranking also placed Algorand (ALGO), Avalanche (AVAX), Celestia (TIA), Pendle (PENDLE), Solana (SOL), Dogecoin (DOGE), Render Token (RENDER), XRP, Stellar (XLM), Arbitrum (ARB), Chainlink (LINK), Fantom (FTM), Litecoin (LTC), Tron (TRX), Toncoin (TON) and ZCash (ZEC) in the B category.

Meanwhile, Arpa (ARPA) and Veracity (VRA) dropped to D-category ranking in the latest update.

As reported by U.Today earlier this year, Cardano (ADA) is among the potential candidates for spot ETF approval in the U.S.

According to analyst Nate Geraci, ADA and AVAX would join XRP and SOL in the altcoin ETFs race.

Cardano (ADA) hits all-time high in major DeFi metric

In the last 30 days, the ADA price price witnessed impressive growth, jumping from $0.33 to an unbelievable $1.1 per coin. The net ADA capitalization touched $40 billion.

Cardano's (ADA) price absolute high occurred in September 2021 when ADA soared over $3. At the same time, for the Cardano (ADA) DeFi ecosystem, this cycle already smashed through all records.

The total value locked across all Cardano's DeFi protocols hit a new ATH today at $621 million in equivalent, DefiLlama says. Almost half of this sum is locked in Liqwid and Minswap, two dominant Cardano DeFis.

Liqwid, Lenfi and Indigo are the fastest-growing Cardano DeFi protocols.