Altcoin Cardano (ADA) is showing explosive growth in 2021. The coin previously even broke into the top three cryptocurrencies, and its price reached $ 1.5 at the end of February.
On Friday, March 19, the ADA rate dipped to $ 1.27. Altcoin capitalization for the week fell by 13% to $ 40.627 billion.
The coin is now in fourth place, behind Binance Coin (BNB) tokens. However, its potential is far from being exhausted, observers say.
Since the beginning of the year, the value of Cardano has grown by 590%. This project even challenged Ethereum. As previously noted by the leader of developers Charles Hoskinson, Cardano should become the leading blockchain in the future.
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The ADA Rally, among other things, was the result of the listing of the cryptocurrency on the Coinbase Pro platform in mid-March. In parallel, there is a growing interest of institutional investors in digital currency.
Open interest in Cardano futures has grown fivefold this year to reach $ 1 billion.
Cryptocurrency network performance has also improved significantly in recent months.
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According to CoinMetrics, about 85,000 addresses are currently performing transactions on the blockchain per day. The amount of daily transactions exceeds $ 4.5 billion, which is several times higher than that of Litecoin and other close competitors of Cardano.