Cardano price hits new all-time high
While Charles Hoskinson argues with critics of his cryptocurrency, Cardano is hitting a new ATH high of $2.58. The last ADA jump above the $2.30 level occurred in mid-May 2021.
The most active tokens of the Cardano project last week, when they managed to surpass their competitors in the face of Tether (USDT) and Binance Coin (BNB), becoming the third-largest cryptocurrency in terms of market capitalization, according to CoinMarketCap.
At current rates, Hoskinson's token managed to achieve a capitalization growth of more than 20% and now it is more than $82 billion. Meanwhile, on the Huobi, the price for one ADA token is $2.56. The increase in the value of Cardano per day was 20.10%, and the daily trading volume increased by 100.63%.
One of the reasons for the growth is the forthcoming Alonzo update planned by the Cardano Development Team Input Output for September 12, 2021. As part of it, a hard fork will take place, an improvement in the smart contracts, and the long-awaited transition of the blockchain to Proof-of-Stake. Among other reasons for the growth, analysts cite the boom in the altcoin market and FOMO.
As a result of the September innovations, Cardano will permit developers to create DeFi apps using smart contracts with the ability to provide loans, cash loans, and asset trading without agents. However, despite Cardano's exponential 1300% growth since early 2021, blockchain still lags following its progenitor, Ethereum.
One of the loudest statements from investors about the future of Cardano in recent years was the words of Mike Novogratz that after a dialogue with 20 bankers who are professionals in their field, none of them mentioned that Cardano has support from developers. Hoskinson, in turn, reacted to Novogratz's tweet with irony, emphasizing that the crypto community had heard more than once from bankers that cryptocurrencies had no influence.
Perhaps, looking at what is happening on the cryptocurrency market today, it is unlikely that at least one experienced banker will continue to bend this line of reasoning when the cost of bitcoin exceeds $47,000, followed by a giant “green trail” of hundreds of altcoins that have risen in price.
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