Cardano price hit a new all-time high today at USD 2.64.
According to Coingecko, the Cardano price hit its last all-time high this morning (August 22, 2021) at USD 2.64. On August 20, 2021, the Cardano rate was rejected at the USD 2.60 mark. On August 21, 2021, the ADA price then fell to USD 2.40. However, the ADA price rose sharply afterwards and then reached the last all-time high. At the time of publication, the ADA price is slightly below the new all-time high.
On Wednesday (August 18, 2021) the ADA rate was still below the USD 2 mark. In addition, Cardano’s market capitalization has recently risen sharply. As of this month, ADA is the third largest cryptocurrency (measured by market capitalization).
The price increase triggered a certain euphoria in the Cardano community, as reported by the on-chain metrics and analysis platform Santiment. She tweeted on August 22, 2021:
“The number of # Cardano hashtags used and the number of $ ADA cash tags used have exploded in the wake of the new #AllTimeHigh of the #crypto asset. The amount and euphoria at this level will have a huge impact on whether prices continue to climb towards USD 3.00 or above. “
Cardano smart contracts are coming in September
One of the other major reasons for ADA’s recent price surge is the imminent launch of Cardano smart contracts. Earlier this month, the token’s value jumped from $ 1.54 to $ 1.88 (around 20%) when Cardano founder Charles Hoskinson announced the impending introduction of smart contracts.
Input Output Hong Kong (IOHK), the company behind Cardano, regularly publishes video updates that often talk about Alonzo smart contracts. In the last issue of August 13, 2021, Nigel Hemsley, Head of Delivery at IOHK, revealed the possible date for the start of the smart contract feature. He said:
“We have a complete smart contract release ready with which the participants can use our complete smart contract toolbox for the Alonzo hard fork […] we are targeting Monday, September 12th. “
Hemsley also said a hard fork of the test network is planned for September 1, 2021. The mainnet will then be published after a test phase lasting more than one week.
Translated by Maximilian M.
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