Cryptocurrency

ADA Sets New All-Time High, As Cardano Community Awaits Smart Contracts Launch

Cardano (ADA), the third-largest cryptocurrency by market capitalization, has just recorded a new price all-time high of $2.54, breaking above its previous all-time high of $2.46 recorded back in May 2021.

The cryptocurrency set the new all-time high after a relatively 20% rise in price in the last 24 hours, according to CoinGecko.

Read Also: Gemini: Ethereum (ETH), Cardano (ADA) Top the List of Investments of Choice in Singapore

Courtesy of CoinGecko

Before Cardano (ADA) attained this height, a number of crypto analysts, traders, and pundits have been positive about its trend.

The Reason for the Magnificent Price Surge

The price of Cardano (ADA) has been massively rising since it was announced by Input Output Global (IOG), the software firm behind the development of Cardano, that smart contracts functionality will officially go live on the blockchain by early September 2021.

Read Also: What Charles Hoskinson Said about the Possibility of Hacking Smart Contracts on Cardano Network

Even before the announcement was made on 13th August, the price of Cardano (ADA) has been outperforming other top cryptocurrencies in the market, including the two largest digital currencies, Bitcoin (BTC) and Ethereum (ETH).

IOG Scheduled 12th September for the Launch of Alonzo

On 13th August 2021, Tim Harrison, the marketing and communications director at IOG, announced that 12th September has been estimated for the mainnet launch of Alonzo, a highly-anticipated upgrade that will bring smart contracts functionality to Cardano blockchain.

Read Also: CryptoCapitalVenture Founder: Cardano (ADA) Will Outperform Top 10 Cryptos over the Next 6 Months

According to Cardano’s head of delivery, Nigel Hemsley, engineering and test teams have started putting their efforts together to make the hard fork combinator event a success.

Nigel Hemsley noted:

“As we come up toward this hard fork, we will deliver the Plutus capability, a full toolbox of smart contract capability, and then we’ll start it right from there. It gives us the foundation to build on Cardano…We’ll have more and more dApps and other innovations coming out shortly afterwards.”


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

It’s Like Solana, But on Steroids: SOL Millionaire Reveals Altcoin Under $0.10 He Believes Will Outperform All Top 10 Coins

A Solana millionaire has drawn attention to an altcoin trading under $0.10, claiming it has…

50 mins ago

Here’s why XRP Crashed Below $0.5 Today

The cryptocurrency market experienced significant volatility over the past 24 hours as XRP's value declined…

54 mins ago

Expert Compares XRP to Netflix, Says “Buy and Hold”

In a recent post on X, EGRAG CRYPTO provided a compelling comparison between XRP and…

2 hours ago

Disrupting The DeFi Sphere: ERC20 Token Captivates Solana And XRP Whales

Solana (SOL) and Ripple (XRP) have long appealed to crypto whales for their scalability and…

2 hours ago

Ripple CEO Airs His Opinion On Harris and Trump’s Plan for Crypto Industry

In a recent interview with Bloomberg, Ripple CEO Brad Garlinghouse shared his insights on the…

3 hours ago

TradFi Company Stripe Records Largest Crypto Acquisition After $1.1B Bridge Purchase, Traders Look To Cutoshi For Early DeFi Investment

As part of its mission to support stablecoin payment, the popular TradFi giant Stripe is…

4 hours ago