Cardano (ADA), the 7th largest cryptocurrency by market capitalization, has recently attained a new price all-time high of $1.68 as the community awaits more viable developments.
After weeks of sideways trend, the digital token ADA has reignited its surging momentum. Obviously, the latest and upcoming developments around the popular blockchain have been aiding the price surge of its native token.
Since the start of the year, Cardano (ADA) has surged over 800% and this positive trend seems to be the beginning, considering upcoming developments.
At the time of writing, ADA is trading at $1.65, with a relatively 18% price uptrend in the last 24 hours. ADA’s market capitalization now stands around $52.2 billion, according to CoinMarketCap. cardano ada
Developments around Cardano Have Been the Factor behind the Price Surge
Cardano (ADA) has a mission in Africa and this is becoming obvious to the majority of the crypto community members, considering the recent partnerships sealed in the continent.
Within a couple of weeks, through Input Output Global (IOG), the top blockchain project sealed a partnership with Ethiopia’s Ministry of Education to create blockchain-based ID systems.
A few days later, IOG sealed another partnership with World Mobile to give thousands of Tanzanians access to social, digital, and financial services.
Also, the recent listings and supports for Cardano (ADA) cannot be thrown underfoot. Just about two days ago, Kraken announced its support for ADA staking on its platform. Simplex has also allowed a direct purchase of the digital currency with credit and debit cards.
However, the listing of Cardano (ADA) on Coinbase, the largest US-based crypto exchange, is regarded as the most notable listing so far in 2021.
Going by the roadmap of Cardano development laid out a couple of weeks ago, the Alonzo hard fork is expected to bring smart contracts functionality to the Cardano blockchain. And this is slated for August 2021.
Once the implementation of smart contracts functionality is complete, Cardano will be able to compete with the Ethereum blockchain and people will be able to mint non-fungible tokens (NFTs) on the blockchain.