What is Cardano coin?
Cardano (ADA), the native cryptocurrency powering Charles Hoskinson's public blockchain, has hit a fresh all-time high and has surpassed Binance's native token in total market capitalization. ... ADA is currently changing hands for around $2.49 after reaching its record high of $2.55 during the Asia trading hours. yahoo.comCardano Price Hits All-Time High, Overtakes Binance Coin as Third-Most Valuable Crypto
What is Cardano all time high?
Cardano, a cryptocurrency that was largely unknown at the start of the year for many people, has powered its way to become the third-largest crypto on the market. The digital coin hit an all-time high Friday of $2.58, a jump of more than 18%. FortuneCardano continues staggering climb, becomes third-largest crypto
20 August, 2021 - 05:50pm
In a tweet published to his over 350,000 followers, pseudonymous trader and analyst Kaleo wrote that if BTC and ETH hit both $100,000 and $10,000, he believes the price of Cardano could outpace them by breaking out in a way similar to BitTorrent’s BTT token.
BitTorrent’s BTT, it’s worth noting, exploded earlier this year by over 1,00%, going from $0.001 to $0.01 in a matter of weeks. Kaleo pointed out, however, that given Cardano’s larger market capitalization its price growth won’t be sudden and will instead happen over time.
As Daily Hold reports, the trader also revealed he was bullish on the ADA/BTC pair, sharing a chart that implies the cryptocurrency is about to break a long-term resistance on it to outperform BTC in the short term.
Cardano has been making headlines over the last few weeks as the cryptocurrency is deploying the Alonzo upgrade, which will introduce smart contracts to its network, in the near future. Charles Hoskinson has confirmed that as soon as the hard fork is complete, smart contracts will be available.
As CryptoGlobe reported, Input Output Hong Kong (IOHK), one of the companies working on Cardano, has revealed the Alonzo Purple testnet has already started its user onboarding process.
Demand for the cryptocurrency has been growing over time. Amy Arnott, a portfolio strategist at Morningstar that focuses on cryptocurrencies, has revealed she believes ADA could become one of the largest three cryptocurrencies by market capitalization and go mainstream, along with Bitcoin and Ethereum.
20 August, 2021 - 02:51pm
Cardano is officially one of the best-performing cryptocurrencies this year. The coin has experienced massive gains in recent months and has now reached a new-all-time. This latest development comes after Cardano hit the $2.57 earlier today.
By reaching the $2.57 mark, ADA’s price is up by 24% over the past 24 hours. The coin’s price is up by 27% in the past seven days, making it one of the top performers amongst the top ten cryptocurrencies.
The rally also came at the expense of the Binance Coin (BNB). ADA is now officially the third-largest cryptocurrency by market cap after overtaking BNB earlier today. At the time of this writing, ADA’s total market cap is $81 billion, while that of BNB is $72 billion.
Bitcoin, Ether and the other leading cryptocurrencies all experienced losses earlier this week. Bitcoin’s price dropped to the $44k level earlier this week, but it is now trading above the $47k region again.
Cardano’s rally in recent months can be attributed to the expected launch of smart contract functionalities on its blockchain. Cardano founder Charles Hoskinson said the team is on track to launch the smart contracts functionalities once Cardano undergoes the hard fork.
The launch of smart contracts on the Cardano blockchain is expected to make the network one of the leading blockchains in the world. Cardano is expected to rival Ethereum and the Binance Smart Chain in attracting DeFi protocols.
20 August, 2021 - 10:59am
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Cardano achieved a new all-time high of $2.54 in the early hours of trading this morning.
ADA rose 40% in the past week, overtaking Tether and Binance Coin in market capitalization.
Input Output, the development company behind Cardano, then announced that the upgrade would occur on September 12.
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This marks a 20% gain in the past 24 hours. Yet this figure roughly doubles the further back in time you scale. ADA rose 40% in the past week, overtaking Tether and Binance Coin in market capitalization. Within the past 2 weeks, ADA has risen over 80%. Currently, Cardano has the third-highest market capitalization for a cryptocurrency at just over $80 billion.
Cardano’s price started its run up on August 10, when Cardano founder Charles Hoskinson announced he would reveal the release date for the impending Alonzo upgrade on August 13. The Alonzo hard fork will bring the long-awaited smart contract functionality to the Cardano proof-of-stake (PoS) blockchain.
Input Output, the development company behind Cardano, then announced that the upgrade would occur on September 12. Shortly thereafter ADA surpassed the $2 mark.
The much-anticipated smart contract launch will reassure investors, who will now be watching closely to ensure Cardano sticks to its deadline. Some are confident that Cardano’s slow-and-steady approach is best in the long term.
Cardano distinguishes itself from its competitors through its academic approach, aiming to address scalability and other issues through research. It utilizes a team of engineers and academics that have published more than 100 scientific papers on the underlying technology. Its team thoroughly peer reviews and stress tests all its work before implementation. This means the final product is likely to be more robust and work smoothly. However, it is also the reason why it has taken so long to introduce smart contract functionality.
Hoskinson has also frequently recalls the company’s motivating developmental goals. For example, in a recent interview with Bloomberg highlighting Cardano’s work in Ethiopia, Hoskinson emphasized his company’s commitment to human rights. “We’re a big believer in quality human rights,” he said.
Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.
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20 August, 2021 - 06:30am
Cardano’s ADA soared to become the third-largest cryptocurrency by market cap earlier this week. Today, ADA Price has soared to a new all-time high, increasing by another 15%. It has a market worth of $80,736,171,906.
The token has been on a constant uptrend this month as it surged 85%. This came after Charles Hoskinson announced a September network upgrade, dubbed Alonzo, that will enable the Cardano blockchain to perform smart contracts.
At the time of writing, ADA is trading at $2.52 up by 18.7% in the last 24 hours. It is now to be watched out for if the token will rally higher or retrace from here.
Popular pseudonyms trader “Crypto Kaleo” in recent tweets has made uber bullish predictions for ADA.
He says, As the price of Bitcoin and Ethereum continues to rise, many believe Cardano will follow suit in a significant way.
According to Kaleo, ADA might take off in the same way that Tron-based BitTorrent did (BTT). Between March and April of this year, the coin increased by approximately 1000 percent from $0.001 to $0.01.
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