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Cardano (ADA) Reached New All-Time High

  • Decentralized Cardano reached a new all-time high following a 14 % gain.
  • ADA has overturned Tether to the sixth part of the market leaderboard.
  • ADA was outperforming on Bitcoin (BTC)

The decentralized, blockchain-based system Cardano (ADA) reached the new all-time high following a 14% gain

The cryptocurrency which runs on the Cardano platform is ADA coin. Cardano is the layered system that runs ADA exchange and Smart Contracts. ADA allows users to operate various smart Contracts and applications seamlessly.  The first peer-to-peer transaction system is Cardano.

The smart contract platform brought back to the elite territory in terms of market capitalization ranking by Cardano’s ADA cryptocurrency.

Furthermore, on major exchanges, ADA chartered 14% growth to reach $1.83, marked a new all-time high. It was loitering just below $1.80 in the last seen, and it has gained 14% on the day, on the week 31%, and in the past month over 47%.

Moreover,  in a market cap, Cardano has a value of $57.8 billion overturning Tether (USDT) to the sixth part of the market leaderboard. Cardano grabbed the fifth position in the CoinMarketCap

ADA/USDT Price Chart (Source: TradingView)

Accordingly, in comparison with Bitcoin(BTC), ADA was outplaying, having raised 16% over the largest cryptocurrency. ADA remains well below its all-time high when measured in Bitcoin.

Hence more, the confluence of technical, fundamental and sentiment-driven indicators supports the Cardano. The ADA was increasing trends and rise after the cryptocurrency breached the $1.48 resistance late last week.

Kraken, the digital currency exchange announced last week, ADA staking was now available on the platform. The users of the Kraken can now easily fund their ADA staking accounts to receive rewards of up to 6% and it has delivered weekly.

In Cardano’s multi-year development, the next major milestone is the Alonzo upgrade. Alonzo upgrade set to introduce smart-contract capability on the blockchain. Input-Output Hong Kong, said last month,

” Alonzo is being gradually deployed to the mainnet via several testnests.”

Moreover, in May and June, early adopters and partners will be able to test the features of the upgrade.

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Carolyna Mavis

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.

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