Cardano’s Ada Surges To New High, Becoming Biggest Cryptocurrency To Hit Record Price After $1 Trillion Crash

Cardano’s Ada Surges To New High, Becoming Biggest Cryptocurrency To Hit Record Price After $1 Trillion Crash

Share to Linkedin While the broader cryptocurrency market took a breather, Cardano's ada extended a stunning weeks-long rally early Friday morning, soaring 10% in a matter of hours as trading volume in the token, which last week became the world's third-largest cryptocurrency, swelled amid anticipation for a coming software upgrade that could help the token compete with Ethereum. Now the world's third-largest cryptocurrency, Cardano's ada has skyrocketed 1, 300% this year. Cardano's ada jumped more than 14% to a price of $2. 49 by 12:52 a. m. EDT Friday, its highest point since a record of $2. 46 on May 16, according to crypto data website CoinMarketCap, and taking its market capitalization above $75 billion. Reflecting investors' Thursday fervor, as of 11:00 p. m. EDT, more than $8 billion worth of ada tokens had traded hands in 24 hours—the highest one-day showing since a May price surge. The token has been on a steady tear this month, soaring 85% as Cardano Founder Charles Hoskinson teased a September network upgrade, named Alonzo, that will enable the Cardano blockchain to process smart contracts, self-executing agreements between buyers and sellers that have helped Ethereum dominate the booming $100 billion decentralized finance industry. Prospects