The price of ADA has risen by 19 percent on the day, displacing BNB as the third-most valuable cryptocurrency by market capitalization.
Cardano (ADA), the native cryptocurrency that powers Charles Hoskinson’s public blockchain, has eclipsed Binance’s native token in total market value, setting a new all-time high.
According to data from supplier Messari, ADA has a market valuation of $80.7 billion, compared to $72.1 billion for Binance coin (BNB). The price of ADA is up 19 percent on the day, continuing its upward trend from Thursday, when it came near to reaching new highs.
The cryptocurrency has been on a rampage in recent weeks, rising 150 percent from its lows of $1 on July 21.
After achieving a record high of $2.55 during Asia business hours, ADA is currently trading for roughly $2.49.
People who invested in cardano are way too happy after the mentioned crypto hit thr 3rd rank and reached a new price hike.
The Alonzo improvement appears to be having a substantial impact on investor sentiment. The patch aims to bring smart-contract capabilities to the network and address one of the network’s most visible flaws, according to critics.
Cardano has gone through several stages of development, including the fundamental Byron phase and the decentralised Shelley phase, which introduced delegated staking. Smart contracts will be available when Cardano reaches its third age, Goguen, according to the Cardano roadmap.
Cardano was created in 2017 by Ethereum co-founder Charles Hoskinson with the goal of competing directly with Ethereum and other decentralised application platforms as a more scalable, secure, and efficient alternative.
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