Cardano (ADA) is currently outpacing XRP in terms of market capitalization, according to CoinMarketCap data. Cardano is now the seventh largest cryptocurrency, with a market cap of $17.22 billion, ahead of XRP’s market cap of $16.4 billion. Cardano is gaining traction as a result of encouraging news about upcoming Vasil updates, exchange listings, and positive investor confidence.

Cardano was outperforming the top ten cryptocurrencies in terms of 24-hour gains at the time of writing. The asset’s trading interest is also reflected in a 30% increase in trading volumes, with 1.8 billion (1,891,419,122) ADA moved in the last 24 hours.

Cardano (ADA) price rises in response to encouraging news

Cardano’s native asset, ADA, is currently trading at $0.50, up 6.84%. ADA is the week’s top gainer, up 12.39%. Cardano’s creator, Input Output, revealed on Friday that the Vasil update is scheduled for September 22. Cardano creator Charles Hoskinson also announced the date, which sparked enthusiasm in the community.

Cardano’s Robinhood listing is another highlight from the past week. Stock brokerage software Robinhood added support for ADA on Thursday. In the same week, Input Output announced its collaboration in the field of blockchain research by funding a new $4.5 million “Blockchain Research Hub” at Stanford University, one of the top research and higher education institutions in the world.

Cardano’s ADA rose to a high of $0.51 on September 4 as the community digested the news of the imminent Vasil release, which is expected to strengthen Cardano and its Plutus contract.

According to IOG’s readiness metrics, the Vasil node 1.35.3 has delivered 87% of the mainnet blocks. While Binance was far closer to completion, the MEXC and Bitrue exchanges revealed Vasil’s readiness. Exchanges such as AscendEX, NDAX, and Dex-Trade have signaled ready for the upgrade, with others in the process of updating their nodes. Furthermore, 70% of dApps reported positive preproduction testing findings.