Injective (INJ), Cardano (ADA) and Ripple (XRP) crypto prices and news

Once again our column dedicated to the analysis of prices and news in the crypto world returns, today we focus on three cryptos: Injective (INJ), Cardano (ADA) and Ripple (XRP). 

Prices and market statistics of the cryptos Injective (INJ), Cardano (ADA) and Ripple (XRP)

Injective Protocol (INJ) is currently trading at 13.45 USD, with a market capitalisation of 1.1 billion USD. The volume of transactions in the last 24 hours was $83.7 million, while the outstanding supply of INJ was $83.8 million. The average holding period for this cryptocurrency is 17 days.

In terms of popularity, INJ is currently ranked as the 33rd most popular cryptoasset. Its all-time high was USD 25.01. 

However, over the past few hours, the price has dropped by 0.28%, while over the past 24 hours it has dropped by 3.17%. Despite this recent volatility, INJ has gained 22.56% over the past seven days. 

Cardano (ADA) is a cryptocurrency with a current price of 0.30 USD. It has a market cap of USD 10.6 billion, making it one of the largest cryptocurrencies in terms of size. Trading volume in the last 24 hours was USD 232.8 million, demonstrating continued interest in the token.

With an outstanding supply of 35.2 billion ADA, Cardano is well-distributed. This contributes to greater price stability than projects with more limited supply.

The average ADA holding period is 206 days, suggesting that many investors choose to ‘hold’ their ADA for the long term.

Cardano’s popularity is remarkable, currently ranking 7th in the cryptocurrency rankings. ADA’s all-time high was USD 3.10, a target that many investors have their eyes on.

Recent price movements show a slight decrease in the last hour, but an increase of 2.04% in the last 24 hours. These fluctuations are common in today’s crypto markets.

Ripple (XRP), one of the most popular cryptocurrencies, has a number of interesting market statistics. Currently, XRP is trading at USD 0.57. 

Ripple’s market cap reaches USD 30.6 billion, making it one of the most significant cryptocurrencies by market cap.

Trading volume over the past 24 hours has been remarkable, totalling USD 1.6 billion, indicating continued investor interest and high liquidity. With 53.6 billion XRP outstanding, there is ample availability in the market.

The average holding period of 74 days suggests an active trading pace, while XRP’s fourth position in terms of popularity is a sign of its recognition in the cryptocurrency community.

The all-time high of USD 3.84 shows XRP’s potential for appreciation.

Over the past 24 hours, the price has risen by 3.78%. On a weekly basis, it has also increased by 5.98%.

Cardano’s impressive numbers last quarter

Cardano’s impressive performance in the third quarter of this year, as highlighted in Messari’s latest report, underlines its growing importance in the cryptocurrency landscape.

The value of the network’s stablecoins grew significantly, rising 16% quarter-on-quarter and a staggering 461% since the beginning of the year. 

This remarkable rally was initially driven by iUSD, but gained further momentum with the introduction of bridged versions of USDT and USDC through protocols such as Wanchain.

In addition to the surge in stablecoin value, Cardano saw a significant increase in the total value locked in (TVL) of decentralised finance (DeFi) assets during Q3. 

This critical metric saw a significant 198% increase over the previous quarter, moving Cardano from 34th to 15th in the TVL rankings.

Cardano’s robust growth story is further confirmed by key performance indicators. In Q3, the network recorded an average of 41,137 active wallet addresses per day and an average of 60,356 transactions per day. 

Furthermore, metrics related to decentralised applications (dApps) and non-fungible tokens (NFTs) showed impressive figures, with an average of 49,388 dApp transactions per day and a daily NFT transaction volume of $0.6 million.

In terms of ecosystem activity, Cardano made great strides in the third quarter. The Project Catalyst Fund 10 was completed, with a total of 192 projects funded from a dedicated pool of ADA 50 million. In addition, the Mithril update was released, bringing with it a number of notable improvements according to the weekly Input Output Global performance update. 

These developments underscore Cardano’s continued commitment to innovation and growth in the cryptocurrency and blockchain space.

XRP against US President

XRP’s lawyer has criticised President Joe Biden’s executive order on security standards for artificial intelligence (AI), citing concerns that it could restrict innovation. 

The executive order aims to manage the risks associated with AI technology by requiring developers to share security test results and key information with the US government. 

Specifically, the obligation to share such information is placed primarily on developers of the most powerful AI systems, with the order setting a threshold for AI models with more than 1e26 floating point operations.

Companies using these advanced AI models must provide the results of all red team security testing. 

Interestingly, this threshold is closely aligned with the operational capacity of the largest existing AI models, a fact highlighted by David Vorick, the creator of the SiaCoin cryptocurrency. 

The underlying goal of this executive order is to protect Americans from potential AI-based fraud and deception, similar to the US Securities and Exchange Commission’s (SEC) efforts to enforce regulations in the cryptocurrency sector to detect fraud.

The concerns raised by XRP’s lawyer echo the sentiments of many in the AI industry, who fear that these new regulations could create regulatory hurdles similar to those experienced by the US cryptocurrency industry for years. 

The perceived parallels between AI and cryptocurrency regulation have raised questions about the balance between innovation and security in emerging technology sectors. The debate surrounding the executive order underscores the complexity of regulating cutting-edge technologies while fostering a climate conducive to technological progress.