Cardano (ADA) Blasts above H1 2021 Highs to Register a New All-Time Price
ADA, the native currency of Cardano, is now trading at an all-time high after surging past May 2021 highs.
Currently trading at over $2.78, the coin has a market cap of over $89 billion. Subsequently, it has flipped the Binance Coin (BNB) to third, a feat for the project that's still in development.
The burst higher is due to the highly anticipated smart contracting launch set for September 12. Once the upgrade goes live, marking the delayed Goguen phase and the beginning of Basho, Cardano—a project built from the ground up and is peer-reviewed, will be at par with other smart contracting platforms like Ethereum and EOS.
Remarkably, Q3 2021 has seen smart contracting platforms post stellar gains. Most projects in the top-10 are launching pads for dApps offering DeFi and NFTs, sating the ever-increasing demand for low trading fees and scalability.
Cardano is currently experimenting with the Alonzo Purple public test net ahead of Goguen. Its activation would further smart contracting a saturated field, making it even harder for other currently fringe or new projects to crack into and establish themselves. In addition to smart contracts, Cardano is one of the most decentralized with over 1,000 staking pools—a fact which sees over 70 percent of ADA staked by users.
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