Ethereum

Cardano

<ul><li>Cardano&#39;s NFT floor price surpasses Ethereum by a significant 22%.</li><li>Ethereum faces challenges like network congestion and high gas fees.</li><li>Despite Cardano&#39;s price rise, Ethereum dominates in NFT trade volume.</li></ul>Amid the ever-evolving NFT landscape, Cardano has <a href="https://twitter.com/StocktwitsNFTs/status/1693417069167984785" rel="noopener noreferrer nofollow">emerged</a> as a strong contender, directly challenging Ethereum&#39;s longstanding dominance. Previously labeled a ghost chain due to its lack of a dynamic DeFi and NFT ecosystem, Cardano has recently showcased an impressive uptick in its NFT floor price, outpacing Ethereum by an astounding 22%. The NFT analytic platform StockTwits NFTs&#39; recent revelations have illuminated this unexpected trajectory change in the NFT market dynamics.Last September, Cardano <a href="https://adaverseaccelerator.medium.com/looking-back-at-cardano-in-2022-to-highlight-the-hidden-gems-of-2023-4920b915110e" rel="noopener noreferrer nofollow">underwent </a>a significant upgrade known as the Vasil upgrade. This development aimed to refine block latency speed and the blockchain&#39;s overall efficiency. The fruits of this upgrade are evident, with Cardano now recognized as the third most prominent NFT protocol, just behind Ethereum and Solana. This advancement has led to significant growth in the number of Unique Active Wallets (UAW) on Cardano&#39;s blockchain.However, it&#39;s crucial to note that while Cardano is on the ascent, Ethereum&#39;s NFT space grapples with its challenges. Increasing network congestion and skyrocketing gas fees have driven many users to look elsewhere. Platforms such as Cardano present a potential alternative.Yet, Ethereum&#39;s legacy within the NFT domain still needs to be noticed. Regarding sheer NFT sales volume over the last day, Ethereum&#39;s performance is unmatched. Data from <a href="https://www.cryptoslam.io/" rel="noopener noreferrer nofollow">CryptoSlam</a> confirms this, with Ethereum&#39;s sales reaching a staggering $65 million, while Cardano lagged with a comparatively humble $1.47 million.Read full article at <a href="https://cryptotale.org/cardano-nfts-rise-surpassing-ethereums-floor-price-by-22/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Cardano NFTs Rise, Surpassing Ethereum's Floor Price by 22%

CryptoTale

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