Cardano (ADA), the third-largest crypto asset in the market has reached an all-time high. ADA is one of the most prominent digital currencies that has caught the attention of numerous major and minor entities. With the complete launch of its much-awaited Alonzo Upgrade, the cryptocurrency is expected to surge even higher, a glimpse of which can be seen now.
Here is a graph by CoinGecko that shows the gradual increase in ADA’s price over the last month.
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More Details About Cardano’s Price Surge
The native crypto asset of the Cardano blockchain, ADA, is currently trading at $3.07 (at the time of writing). The $3 price mark was a significant milestone, which has been crossed by ADA for the first time in history.
The digital asset has seen a surge of more than 10% in the last 24 hours. With this, the position of ADA as the third-largest crypto asset has been solidified even more.
Cardano has seen the biggest gains in the market over the last week and is anticipated to be on this path, considering the launch of the Alonzo Upgrade.
According to reports, ADA has already seen an increase of over 1,567% in 2021. Due to its much-anticipated upgrade and impressive price surge, numerous media channels have been focusing on it as well.
The most distinguished reason for an increase in ADA’s price and prominence is the recent announcement made by Cardano’s team.
Earlier today, it was tweeted that the Cardano testnet is now officially supporting smart contracts. This is a huge achievement for the blockchain.
It has also been reported that according to the team, the final testing and integration will be done before the mainnet launch.
According to reports, the mainnet launch will take place on September 12th.
While ADA has achieved an all-time high, the largest crypto asset Bitcoin is still struggling to reach the $50,000 price mark. According to some analysts, a slight and brief price correction for BTC is essential for its price surge in the long run, which is what many enthusiasts are waiting for.
What to Know as a Crypto Investor or Trader?
The volatility of the crypto market is not something new, especially for people who have been in the crypto space for quite some time. Despite the ups and downs noted for the top crypto assets, the market is slowly moving in upward momentum.
The top three cryptocurrencies have seen a surge in their prices over the last 24 hours, some more than others.
- Bitcoin is currently trading at $49,605 (at the time of writing)
- Ethereum is currently trading at $3,756 (at the time of writing)
- Cardano is currently trading at $3.07 (at the time of writing)
The digital currency you choose to invest in greatly depends on your personal preference. However, make sure you use some of the best crypto exchanges, regardless of whichever digital asset you choose to buy.
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