During the week, TREZOR hardware wallet announced its support for Cardano smart contracts. We also take a look at the top gainers in the Cardano ecosystem.
1 – Trezor Hardware Wallet Supports Cardano Smart Contract
Following a new upgrade, Trezor, a crypto hardware wallet provider, will now support the features of Cardano smart contracts.
Based on reports, the Trezor Model T will have this feature. Cardano users will also have to update their Trezor firmware on the Model T device to version 1.11.1. Therefore, making it possible for them to use the smart contract capabilities. In addition, Cardano users have been advised to write down their seed recovery phrase before the upgrade. This is because they will need to enter their keys after finishing the upgrade.
It’s also important to note that this new feature will help users securely interact with and sign transactions to smart contracts via keys on their Trezor.
????TREZOR HARDWARE WALLET NOW SUPPORT #CARDANO SMART CONTRACT
Announcement on the new update, now includes Plutus smart contracts for transactions, allow #Cardano users to verify transactions to smart contracts using keys held on their Trezor?? pic.twitter.com/wBUC8WRTRZ
— Cardano Daily (@cardano_daily) May 24, 2022
2 – Price Performance on Cardano Ecosystem
Last week, crypto data platform, CoinGecko revealed the price performance of projects (top gainers) in the Cardano ecosystem. Notably, it covers a 24-hour time frame on the 25 of May:
- GeroWallet ($GERO) had the best price-performance within the specified timeframe. It recorded a 6.4% rate of increase in price performance.
- SingularityNET ($AGIX) is in second place in terms of price performance. It had a 2.9% rate of increase in price performance.
- ADAX PRO ($ADAX) is third in terms of price performance. It had a 2.3% rate of increase in price performance.
- Charli3 ($C3) is in fourth place with a 1.9% increase in price-performance within the specified timeframe.
- Matrix Labs ($MATRIX) completes the top five with a 1.3% rate of increase in price performance.
Price Performance of Cardano Tokens Last 24H@GeroWallet@singularity_net@adax_pro
@Oraclecharli3@matrixswap@CardanoStiftung@ADAPadofficial@ardanaprojectpic.twitter.com/vFbRR6Lm5z
— Cardano Daily (@cardano_daily) May 25, 2022
3 – Cardano Ranks Among Top Blockchains in Utility Score
During the week, CoinExams, a crypto utility review and comparison platform, released a report showing the Cardano blockchain as the third-best blockchain in Utility Score. Cardano blockchain has a utility score of 8.75 which is only behind Algorand on 9.25 and BNB Chain on 9.
However, the Cardano blockchain took the top spot for the level of decentralization as it has over 1,000 public nodes.
#Cardano ranks 3rd place in top 10 blockchains in Utility Score!!#Cardano was named the top on the decentralized level with more than 1000 public nodes, with full support on smart contracts, retail, wallet????
We hope next HF will help to improve the speed and lower the fee pic.twitter.com/n1r54yGN1j
— Cardano Daily (@cardano_daily) May 24, 2022
$ADA Price Outlook
As of the time of writing this article, Cardano’s was $0.484 with a 24-hour trading volume of $560,600. Also, the ADA price dropped by 5.4% over the last 24 hours. Besides, it has a circulating supply of 33.8 billion ADA coins and a total supply of 45 billion.
