Another Big Cardano Africa Deal Is Building Up, Will Fully Leverage Alonzo Smart Contracts
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Considering the current trend, it is becoming obvious that Cardano (ADA), the 5th largest cryptocurrency by market cap, is benefitting from being a proof-of-stake (PoS) powered system.

It’s worthy of note that only Cardano (ADA) remained resilient when other top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and others, crashed following an unfavorable announcement made on 13th May by Elon Musk, the CEO of Tesla and founder of SpaceX.

Read Also: Charles Hoskinson Speaks About Effort and Resilience That Bring About Cardano (ADA)

Cardano (ADA) Breaks above $2

Cardano (ADA) has continued to outperform other top cryptocurrencies in the market. Due to this continued positive trend, the cryptocurrency has managed to break above $2 resistance for the first time in history.

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The top digital currency has also managed to record an all-time high of $2.17 in the course of the magnificent price uptrend, according to CoinGecko. At the time of writing, Cardano (ADA) is trading at $2.12, with a relatively 13% price uptrend based on 24 hours estimation.

Cardano (ADA) Breaks above $2 for the First in History, Records New ATH of $2.17

Read Also: Laptop Mag Describes Cardano (ADA) As the Best Crypto for Eco-Friendly Advocates

PoS Powered Blockchains Mostly Favored

In a time when discussion about which blockchain project is the greenest, proof-of-stake (PoS) powered blockchains such as Cardano (ADA) has been notably favored in terms of price appreciation.

The topic was initiated by the billionaire owner of Tesla, Elon Musk, after realizing that Fossil fuel has mostly been involved in Bitcoin mining rather than renewable energy. This resulted in the removal of Bitcoin from Tesla’s payment options, tanking prices of cryptocurrencies in the process.

Read Also: Vitalik Buterin and Charles Hoskinson Hit Adam Back for Criticizing Cardano, Ethereum, Ripple

However, it’s noticed that some blockchain projects powered by the energy-efficient PoS were not affected. Although it was strange, the announcement helped Cardano (ADA) to record new all-time highs, when Bitcoin, Ethereum, and others were losing extremely.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.