Cardano’s recent update, Ada, recently came through an exorbitant amount of buying volume as well as optimism which led to unexpected consequences. The price of this cryptocurrency went to an all-time high of $1.29. This currently puts Cardano as the third-ranked cryptocurrency if market caps are taken under consideration. According to data taken from TradingView and Cointelegraph Markets, studies have revealed that Ada had a surge of about 27% after it was previously at a low of $0.98. This took place during the trading hours on the 26th of February- when it started climbing upwards to $1.29.
Cardano’s momentum up to this level has been constant in its development through the month of February after the integration of the upgrade of Mary following the testnet of Cardano on the 3rd of February. This upgrade is pretty useful in enabling the functionality of smart contracts which would further help in the transformation of this blockchain into something that would be similar to the multi-asset network that Ethereum is a part of.
Cardano’s Upgrade Mary Will Soon Be Revealed
The cryptocurrency’s hike in price has managed to coincide with the founder posting that Mary would also come live on their mainnet from March 1. According to Charles Hoskinson, this is supposed to be the start of a new beginning. It was reported that Ada managed to come up to a position of $1.17 after announcements regarding Mary came up. But with the pressure coming in from the cryptocurrency market, the price quietly went down below $1 on the 25th of February.
Nonetheless, it can’t be denied that there is a massive interest regarding Cardano and Ada, something which led to its increase by around $580 million.