Cardano (ADA) has embarked on a significant price surge amidst the current devastating state of cryptocurrencies in the market. Over the last 24 hours, Cardano has managed over a 10% price upsurge.
At the time of writing, Cardano (ADA) is trading at $1.29, with about a 12% price uptrend in the last 24 hours. Its market capitalization currently stands at $40,140,634,419, which makes the cryptocurrency the occupant of the 3rd position behind Ethereum (ETH), the arch-rival of the smart contract platform.
About a year ago, ADA was down 98% from its previous all-time high of $1.18 that was attained on 8th January 2018. With the current prices, ADA is up over 7,200% since March 13, 2020.
The current outstanding performance can simply be attributed to the growth of retail interest and the emerging developments in the Cardano ecosystem.
Mary Protocol Update Confirmed For 1st March 2021
As aforementioned, there have been a number of catalysts behind the current state of Cardano (ADA) in the market.
Back in 2020, Charles Hoskinson, the CEO of IOG and creator of Cardano reiterated what he foresaw for the cryptocurrency in 2021 and virtually all that he said have started happening before our eyes. The crypto market is turning notably in favor of crypto-asset.
According to an update shared by IOG a couple of hours ago, the much-awaited Mary protocol update has been fully confirmed for 1st March 2021.
Obviously, the upcoming protocol update is a vital milestone on the road to the Goguen era. The update is coming to the Cardano network with native tokens, multi-asset functionality, and a number of use cases.
IOG tweeted, “WE’RE ON!! We can today confirm that the ‘Mary’ Cardano protocol update is now fully confirmed for March 1st. Another key milestone in the Goguen rollout, the update introduces native tokens & multi-asset support, bringing exciting new use cases for Cardano.”
With the look of things, there is a possibility for Cardano (ADA) to experience a positive price trend further, considering the fact that the cryptocurrency has briefly loosened itself from Bitcoin’s market dominance.