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Cardano Price Rises to New Highs, Passing Binance Coin to Become the Third Most Valuable Crypto

Cardano (ADA), the native cryptocurrency that powers Charles Hoskinson’s public blockchain, overtakes Binance’s native token in total market value. Therefore, setting new all-time highs.

ADA Market Value Go Up

According to supplier Messari, ADA has a market value of $80.7 billion, compared to $72.1 billion for Binance Coin (BNB).

The price of ADA is up 19% on the day, continuing its upward trend from Thursday. On Thursday it came near establishing new highs. The cryptocurrency has been on the run in recent weeks, rising 150% from its lows of $1 on July 21.

After achieving a record high of $2.55 during Asia business hours, ADA is presently trading for about $2.49.

Substantial daily buyer volume is matching price action on the way up. Therefore, suggesting demand for ADA’s trend’s strength and confidence.

The Alonzo Improvement

The “Alonzo” improvement appears to be having a substantial influence on investor mood. According to critics, the patch aims to bring smart-contract capabilities to the network and fix one of the network’s most apparent flaws.

The 1st of October is the release date, but some predict that delays may occur.

Cardano’s Evolution

Cardano has gone through several stages, including the fundamental Byron and the decentralised Shelly phases, which saw the introduction of 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 to compete directly with Ethereum and other decentralised application platforms as a more scalable, safe, and efficient alternative.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.