Thursday, June 17, 2021

ADA Hits Price Milestone of $1.68 As Cardano Awaits More Developments

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.

Read Also: Cardano Active Addresses Surges 417.81% as ADA Transaction Count Gains 382.84% Year-To-Date

ADA Hits Price Milestone of $1.68 As Cardano Awaits More Developments
Courtesy of CoinGecko

Read Also: Cardano Venture Fund (cFund) Invests In COTI in Preparation for Smart Contract Implementation

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.

Read Also: Cardano (ADA) Search and Social Interest Surge to Hit New Yearly Highs; New Daedalus for ITN Released

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.

Read Also: Mike Novogratz Accepts Call With Charles Hoskinson To Prove Him Wrong About Cardano (ADA)

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.

Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

Related Articles

Latest Articles