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Friday, June 2, 2023

Cardano, In Two Weeks, Has Doubled Its Market Capital

Cardano’s price witnessed a hike from 0.44 dollars to nearly 0.88 dollars on the 3rd of February. Often when people think of top cryptocurrencies with the largest market capitalization, the names that pop up are Bitcoin, Tether, or Ethereum. But how about Cardano? The latter of them all has been rising significantly over the past couple of weeks. And if the rise keeps up, people might just consider it a large cryptocurrency. Investors have turned their eyes towards the token already. 

The market capital of Cardano has reached a total of 28.2 billion dollars. The token of the firm, called ADA, now is the largest cryptocurrency in fourth place, considering market capital. Resources have reported on the same. The market cap is a little over its rivals’ like Ripple and Polkadot, 27.6 billion dollars and 25.8 billion dollars, respectively. The price had risen over 31% since the past week. The market capital is up 137% since the past month. This growth can be traced back to the 3rd of February when the price of the token was below 0.44 dollars. 

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Cardano’s History

Cardano has held most of its value ever since it fluctuated over the past couple of days. It reached a peak of 0.99 dollars. But then it dipped ever so slightly. Although not much of it was lost, and it has since been moving healthily. This rise in price has managed to extend longer than just a week. 0.35 dollars was the price of one ADA about a month ago. But then the firm announced that it would begin allowing native coins. This would be effective by the end of this month. 

Cardano is the baby of Charles Hoskinson, the Chief Executive Officer of IOHK, who also is one of the co-founders of Ethereum. Holding ADA also is subjected to governance for the future of this platform. 

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