With the accelerating recovery in recent days, Cardano came to the fore again in market value and rose to 13th place, leaving Stellar behind. ADA thus placed itself right behind Zcash. Recently, Stellar’s strong rise had surpassed Cardano, but the price movement in the last week has changed the balances again.
The decomposition effect came to the fore in the rise
Stellar overtook Cardano after gaining 76% value in a week. DTCC, known for its clearing and custody infrastructure on Wall Street, announced its cooperation plan with the Stellar Development Foundation in the field of tokenization. DTCC is known as one of the major institutions that provide post-transaction infrastructure services in global financial markets.
In comparison, Cardano is up 30% in the last seven days. According to Santiment data, the near-term trigger for this move was the asset’s significant divergence from the general market trend.
While Charles Hoskinson emphasized that the core developer teams are working day and night and do not intend to slow down, he noted that the digital asset market is not yet at the desired point, although the conditions are much better compared to 2018.
Last month’s pressure gave way to accumulation
There has been significant pressure on the ADA in the past month. The decline in price to levels seen since 2020 has led to increased fear, uncertainty and distrust in the market. Charles Hoskinson’s public concerns also made this weak picture more visible.
Despite this, the sharp pullback created an accumulation area for investors taking positions in the opposite direction. This recovery was accompanied by the addition of 14,783 new non-empty ADA wallets on the Cardano network. On-chain data points to a resurgence of new user and existing investor interest.
| Presence | Recent developments | price movement |
|---|---|---|
| Cardano | Fragmentation trend and increase of new wallets | 30% increase in the last 7 days |
| Stellar | Tokenization-focused cooperation plan with DTCC | 76% increase in one week |
Midnight plan and internetworking
Hoskinson also shared new details about the Midnight project. He said Midnight was designed to support Bitcoin, Ethereum, Cardano, Avalanche, Solana, BNB and XRP ecosystems in the initial phase, with the aim of deepening cross-network interoperability.
Mini dictionary: Interoperability refers to the ability of different blockchain networks to transfer data and assets. Tokenization means moving real-world assets or financial instruments to the blockchain as digital tokens.
While Hoskinson stated that participants from these ecosystems can take part in Midnight, he said that Solana-based memecoins can also be traded directly within this structure.
These statements showed that the price recovery in Cardano was not limited to short-term market movement only, and the network’s technical roadmap and ecosystem expansion plans were also closely watched by investors.
