Cardano (ADA) has surged 48 percent in the last seven days after it announced a partnership with blockchain gaming company, FunFair.
Cardano (ADA) is a cryptocurrency that has seen a 48 percent surge in the last seven days. The price of ADA surged to $0.09 on September 7, 2018. Read more in detail here: ada price prediction.
Cardano (ADA) has been on fire in recent days, to the point that it has overtaken Tether (USDT) in terms of market value. With a market price of more than $2, ADA is presently the fourth-largest cryptocurrency. The rise in ADA comes after the network’s creator, Hoskinson, Charles, hinted about the possibility of a smart contract upgrade in the near future.
Tether was briefly flipped by Cardano, and Binance Coin was briefly flipped by Cardano.
According to CoinMarketCap, the price of Cardano has returned to the $2 level, and it is now trading at $2.03. This indicates that ADA is just 17.48 percent away from hitting its all-time high of $2.46. During the rally, the cryptocurrency temporarily overtook Binance Coin (BNB) and Tether (USDT) to take third place.
BNB and USDT were temporarily flipped by Cardano.
BNB has regained third place with a market value of $67.98 billion, while Cardano is the fourth-largest cryptocurrency with a market cap of $65.01 billion. Cardano, on the other hand, has risen more in percentage terms over the last seven and thirty days (48 percent and 62 percent, respectively) than BNB (20 percent , 33 percent ).
According to CoinMarketCap, Cardano has transacted over $58 billion in the last 30 days.
What is the Reason behind Cardano’s Ascension?
Cardano started to rise sharply after the founder’s announcement that the long-awaited Alonzo hardfork’s deployment date will be announced today, August 13.
We’ll be able to announce when the alonzo hard fork occurs, and you’ll be able to execute smart contracts on Cardano at that time.
The Cardano mainnet has been updated with Alonzo. Developers will be able to create projects and execute smart contracts on the blockchain after it has been successfully deployed. Of course, this would put Cardano in direct competition with Ethereum, which has served as the foundation for the majority of DeFi initiatives.
Cardano is a decentralized public blockchain and cryptocurrency project. It was developed by Charles Hoskinson, the founder of Ethereum. The coin surged 48 percent in 7 days due to a partnership with Emurgo. Reference: is cardano a good investment.
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