The post Which Blockchain Has a Brighter Future: Polkadot or Cardano? appeared on BitcoinEthereumNews.com.

Polkadot’s derivatives market sees an 87% surge in trading volume, reflecting growing trader activity and bullish sentiment. Cardano records $27.7B in whale transactions, highlighting increased institutional interest and potential for a breakout. Polkadot and Cardano show bullish momentum, with rising RSI and MACD indicators signaling potential upward price movement. Polkadot (DOT) and Cardano (ADA) are seeing surges in market activity, driven by growing investor interest and bullish sentiment. Polkadot’s price is $4.08, with a 24-hour trading volume of $271.1 million. Cardano, meanwhile, is priced at $0.358, boasting a 24-hour trading volume of $603 million. Both blockchains are vying for dominance in the crypto space. Polkadot’s Market Performance Polkadot (DOT) rose 4.74% in the last 24 hours, with a market cap of $6.19 billion. Its circulating supply is over 1.51 billion DOT coins. And, Polkadot derivatives are on the rise, with trading volume surging 87.12% to $321 million. Open interest has also climbed 8.15% to $253 million, signaling increased trader activity. Read also: Polkadot (DOT) Eyes Breakout in 2025, Outperforming ETH, SOL, and ADA On key exchanges like Binance and OKX there’s a strong long bias, with long/short ratios above 3.8. This indicates bullish sentiment. But the market’s volatility remains high, as 24-hour liquidations reached $295,000. Despite this bullish momentum, Polkadot traders face heightened risks, particularly as leveraged positions increase. On-Chain Activity and Ecosystem Development Polkadot’s on-chain activity peaked at $4 billion in December 2023, driven by parachain auctions and DeFi growth. But by February 2024, monthly transaction values fell below $1 billion. Despite this decline, Polkadot maintains its relevance through DeFi tokens like GLMR and AUSD. The network’s ecosystem could rebound with the introduction of new incentives and updates. These could potentially reignite user engagement and transaction volumes. Cardano’s Strong Momentum Cardano (ADA) has seen a 7.03% price increase in…

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Filed under: News - @ November 7, 2024 5:26 am