Cardano (ADA) Price Is Rising, But Will It Continue?

The ADA token continues to reach new local highs amid its massive rise. Today, it has reached the highly anticipated $ 0.50 level on some spot trading platforms. What is the catalyst for this rally?

Today, the Cardano (ADA) price has risen above $ 0.50. ADA was last traded at this level on January 31, 2018. The ADA price has almost tripled compared to last month.

With this increase, Cardano (ADA) has become the sixth most valuable cryptocurrency in terms of market cap. Cardano (ADA) is currently in the top five, with the exception of the stablecoin Tether (USDT), whose volume is controlled by Tether Limited.

ADA has been witnessing double-digit gains for four days in a row. It should not be forgotten that a large trade volume has come after the ongoing rise. Therefore, the inspirational mobility of buyers can drive the ADA price much higher. ADA’s all-time high was set at $ 1.33 on January 4, 2018.

Big statement from Cardano (ADA) Seo

The ADA rally in February can be attributed to strong technical foundations. Yesterday, Input Output enabled Mary hardfork on HK testnet without any problems. Therefore, Cardano’s (ADA) canary network now lives under Goguen rules.

According to Tim Harrison, IOHK’s marketing and communications director, this update is crucial as it paves the way for the DeFi ecosystem in multi-asset Cardano (ADA). Last week, Cardano developers published an article about how the Cardano network with the new hard fork could be interesting and useful for DeFi.

In addition, IOHK CEO Charles Hoskinson also made a major revamp of Cardano’s consensus algorithm, Ouroboros. The new release, called Ouroboros Omega, will summarize all the milestones Cardano (ADA) has reached since its inception:

ÔÇťOmega is the combination of all the ideas we have had over the last six years. It will be nice.”

Finally, Project Catalyst, a unique community-driven initiative, is a few steps closer to the final rounds of its third iteration. According to the IOHK announcement, consultants will begin evaluating participants’ products.

Disclaimer: What is written here is not an investment advice. Crypto money investments are high-risk investments. Each investment decision is under the responsibility of the individuals. Coinfinans and the author of this content cannot be held responsible for personal investment decisions.

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Cardano (ADA) Price Is Rising, But Will It Continue?

Cardano is a cryptocurrency network and open source project that aims to run a public blockchain platform for smart contracts. Cardano’s internal cryptocurrency is called Ada. The development of the project is overseen by the Cardano Foundation based in Zug, Switzerland.

Cardano Will Rise With The Demands Of The Companies

Cardano took its place among the most prominent sub-tokens after Dogecoin. Regarding the ADA acronym, Cardona has seen incredible growth in recent weeks. Presumably with these second generation products and contract solutions, Cardano coin is expected to be in greater demand in the coming years.

Zug believes that Cardano, which is supported by the Switzerland-based Cardano Foundation and has managed to attract the attention of many important investors, has not yet reached the level it wanted. Many expert economists expected Cardano to hit the $ 3 mark, making a big leap lately.