Cardano (ADA), one of the cryptocurrencies, rose from $ 0.98 on February 26 and reached a level of $ 0.33 as of the morning of February 27. Cardano, which continued to rise in March, is rapidly increasing its volume in the stock markets.
Cryptocurrencies continue to be on the agenda and give direction to the market with the introduction of Bitcoin into our lives. Finally, the Cardano (ADA) coin rose to $ 1.37 on February 27 with its price increase, seeing ATH and settling in 3rd place with its market value. Cardano (ADA) price rose by 2583 percent on the annual chart, 335 percent on the monthly chart and 45 percent on the weekly chart. With a 32 percent increase on a daily basis, it rose to an all-time high of $ 1.37.
This rise has also enabled ADA to make a big leap in terms of market capitalization, and Cardano coin is now the 3rd largest cryptocurrency in terms of market value. Ethereum (ETH) with $ 172.6 billion is just above ADA, which takes the third place from Binance coin (BNB) with a market value of $ 41 billion. With a market value of $ 35.3 billion, BNB is just below the ADA.
Currently, the market value of ADA stands at $ 39.6 billion.
WHAT IS CARDANO (ADA) COIN?
Cardano is a platform with ADA crypto system that can be used to send and receive cryptocurrencies. This cryptocurrency represents the future of money and enables fast, direct transfers that are guaranteed to be secure with cryptography.
Cardano is not just a cryptocurrency, it is a technological platform that can execute financial applications used by individuals, organizations and governments around the world every day.
The platform is built in blocks, making it easier to update the system and upgrade with soft bifurcations. Upon completion of the basic layer that will govern ADA, a separate computing layer will be created to handle smart contracts, digital legal agreements that will support future commerce and business. Cardano will also run decentralized applications or dapps (the system that directly connects users and suppliers) services that are not decentralized but instead run on a blockchain.
Cardano’s innovation is that it balances users’ needs with the demands of regulators and combines privacy with regulation. Cardano’s vision is that the newly regulated computing style will enable greater financial participation by providing open access to fair financial services for all.
WHAT IS ADA TOKEN?
ADA is Cardano’s token and takes its name from the 19th century mathematician Ada Lovelace. 57.6 percent of the ADA supply was distributed in an Initial Coin Offering (ICO), where Cardano raised $ 62.2 million. Token is both a digital currency and makes it possible to make transactions on the Cardano network.
ADA holders also own a stake in the Cardano network, which can be used in staking pools to earn staking rewards. Cardano staking can also be done through Binance Earn.
ADA, Cardano’s local currency, is used to transact on the Cardano blockchain. The relationship between Ada and Cardano is very similar to that of Ethereum with ether (ETH).
Who is the Founder of Cardona (ADA) Coin?
The founder of Cardano is Charles Hoskinson. He is a blockchain developer and co-founder in multiple key projects in Blockchain. Besides Cardano, Charles is among the founders of Ethereum and Ethereum Classic. In 2013, Charles Hoskinson, together with EOSIO’s co-founder Dan Larimer, launched Invictus Innovations, the first blockchain and cryptocurrency startup.
WHY IS THE ADA RISING?
Behind Cardano’s rise is the Mary update, which will be available on the main network as of March 1 and is currently running on the test network. With the Mary update, developers will be able to start creating tokens in the Cardano network. In this case, demand for Cardano is expected to increase.
Even the use of Mary on the test net increased the price at that time. ADA has shown good performance in the past 24 hours, resisting the decline, although the market has seen an overall drop after the community announced that Mary will be available on the main network as of March 1.