Cardano (ADA) Bursts to New All-Time Highs
Ahead of a possibly crypto-shaking software update, Cardano (ADA) prices surged to a new all-time high above $3 on September 2.
At the time of writing, the coin has contracted slightly from all-time highs. However, at over $94.5 billion, it is the third most valuable asset, eclipsing BNB. It is a feat for Cardano, a project that's built from scratch and guided by science. The development team, IOG, prioritize quality over quantity and speed, explaining their snail-paced product release.
Even so, there is confidence ahead of smart contract activation, a primary factor providing the necessary tailwind for one of the sphere's closely watched projects.
With Goguen, Cardano plans to mount a decent challenge on Ethereum and the Binance Smart Chain ecosystems, whether in DeFi or NFTs or both. It is reading between the lines from the funding distribution to projects planning to launch on Cardano from Project Catalyst.
Besides smart contracts, Cardano is already one of the most decentralized Proof-of-Stake platforms with over 1k staking pools. The underlying chain also boasts decent scalability and throughput.
To counter scaling troubles in the future, Cardano has project Hydra, which introduces Layer-2, resolving the low throughput in the primary chain--should it be experienced.