Cardano (ADA) Reached a New All-Time High Surpassing $2.55

by in Cryptocurrency News

Cardano ADA new high

Increasing by over 27% in a week, the price of the native token of the Cardano blockchain, ADA hit a new record high of $2.55 on CoinMarketCap.

Related: Cardano Foundation presented a development plan for 5 years

The coin now is the third-largest by market cap ($80.7 B).

Earlier, on August 13, Cardano founder Charles Hoskinson, announced that the Alonzo upgrade will be released next month. The hard fork will allow Cardano to process smart contracts meaning that the environment will unlock the option of dapp creation.

After the news was announced, ADA's price has seen steady growth, with the coin's market cap getting ahead of USDT and BNB.

From the beginning of 2021, ADA price has increased by around 1.300%, making it one of the best performing cryptocurrencies.

Currently, the total crypto market cap stands at above $2.04 trillion. Bitcoin's market dominance is 43.47%. The coin trades at over $47.110. Ether trades at over $3.230.