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Cardano reaches new all-time high – and pushes Binance Coin from the throne




Monster wins for Cardano! ADA has appreciated 80% in value in the past two weeks, hitting $ 2.56 a few hours ago, making a new all-time high.

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The bears have since invaded the price but found support at $ 2.45. ADA is currently trading at $ 2.50 – the key is that most of the recent gains have been maintained.

Cardano daily chart YTD, source: ADAUSD on TradingView.de

With Alonzo approaching its launch, it seems like buyers are striking in anticipation of more profits. The developer Input Output Global (IOG) has named September 12th as the date for the delivery of Alonzo. Cardano’s previous all-time high was reached in mid-May at $ 2.50.




Everything is going well for Cardano

This week’s development has been particularly encouraging for Cardano investors. While most of the rest of the market collapsed at $ 48,000 along with the rejection of Bitcoin, Cardano was able to make gains.

Bitcoin’s mid-week revival saw the bulls return across the market, but this only accelerated Cardano’s already buoyant buying activity.

Cardano’s strong shape curve pushes its market cap to $ 82.6 billion. Binance Coin has also seen positive gains lately, but not nearly as big as Cardano’s.

Currently, ADA’s total market cap is just under $ 10 billion larger than BNB’s, which pushes ADA to third place on CoinMarketCap.

Even if that is a great success in itself, Cardano is still around 300 billion dollars behind Ethereum. However, analysts expect that this gap could narrow with the imminent introduction of smart contracts.

Novogratz: Nobody develops on Cardano

In the past, critics have denigrated Cardano as vaporware and accused it of being a “ghost blockchain”.

So explained Galaxy Digital CEO Mike Novogratz said this week that developers would avoid the Cardano platform.

Tim Harrison, Director of Communications at IOG, commented the operations in the Cardano ecosystem and took the opportunity to tweet about the company’s goals. According to Harrison, few would know the extent of what was going on in the background.

“I think what a lot of people don’t understand about Cardano is the sheer scale of our ambitions. And our absolute determination to make it happen. But those who know know it. “

So it will be exciting to see how the Cardano ecosystem will develop.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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