“Cardano’s native token, ADA, has hit a new all-time high just a week after overtaking Tether as the industry’s third-largest cryptocurrency.
The price of ADA has skyrocketed by 17.4% over the last day, reaching a new all-time high of $2.54 in the early hours on Friday.
Last week, Cardano’s token swept past Tether (USDT) and Binance Coin (BNB) to become the third-largest cryptocurrency by market capitalization. With its current market value of nearly $80 billion, the asset has only bolstered its position since then.
By press time, the token has slightly backtracked from its record high, changing hands at $2.48, per CoinGecko.
ADA’s price is largely boosted by the imminent Alonzo hard fork, which will bring the long-awaited smart contract functionality to the Cardano proof-of-stake (PoS) blockchain.”
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