Over the past seven days, the value of the Cardano cryptocurrency (ADA) has risen by more than 11%.
In terms of capitalization, this coin has already bypassed Binance Coin (BNB) and knocked it out of the top three altcoins.
Crypto capitalization is now just over $ 52.123 billion. The ascent began at the end of last week.
On Friday, the developers started rolling out the Alonzo testnet. This update is named after mathematician Alonso Church. With its help, the team of Charles Hoskinson will be able to activate the function for launching smart contracts on the Cardano blockchain.
Trending: Salvadorans are against buying bitcoins at the expense of the budget
Thus, the network will take another step towards creating an ecosystem for decentralized applications (DApps). The regular launch of Alonzo is planned by the developers at the end of August.
If the activation is successful, then Cardano will enter into direct competition with Ethereum, which is now leading in the blockchain ranking, experts say.
The ADA peaked in mid-May. The coin jumped to $ 2.46, then it fell to $ 1.32, and only in the second half of the month, the growth in the value of the cryptocurrency resumed.