Cardano is now the biggest cryptocurrency in the world, in third place. It ranks right behind Bitcoin, which stands first and high, and Ethereum, which sits comfortably in between both of the above. But the pace of the former coin has been rising at an alarming rate— even outdoing Bitcoin’s price rally. The digital currency has been climbing the charts so rapidly, in the past 12 months, it has gained 2000%. But for the past month, it has had an even massive surge of 300% of the 2000% above. On Monday, the firm braced itself for an incredible launch for an update. This was set to make Cardano like Ethereum— a network of multi-asset.
Cardano’s upgrade follows a massive surge for Ethereum, the number one blockchain in decentralized finance. It has gained and hasn’t stopped ever since the past year. So Cardano, as well as Polkadot— the sixth-highest cryptocurrency are looking for space in stablecoins, NFT & DeFi. That is due to Ether having troubles with its incredibly high fees and the speed of its transactions. And Ether has also been rising from both of these (DeFi & NFT) as it has managed to create real financial services. These are insurances as well as interests that are called “yield.”
The development team at the core of Cardano, or the (IOHK) Input/Output HK, announced the launch on the first of March. The news was broken on Twitter. They wrote that the protocol update called ‘Mary’ was “fully confirmed” to be out on the given date. As for the “Goguen rollout,” they wrote that their “key milestone” was the new upgrades bringing in “native tokens” as well as support for “multi-asset.”
They also called this change “exciting.”