According to CoinMarketCap, ADA, the native token of Cardano, the emerging smart contracts platform, is now trading above $2, gaining relatively 15% over the last 24 hours. It also managed to displace Tether (USDT) in the fourth position.
At the time of writing, ADA is trading at $2.06 and the digital currency is currently the best performer among other top 10 cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
This magnificent upsurge can be simply attributed to the announcement expected today, as assured by the CEO of IOG Charles Hoskinson.
In a brief update about the progress of IOG on Alonzo, which was shared on 10th August 2021, Cardano founder stated that the software firm would announce on Friday when Cardano would fully support smart contracts.
According to Hoskinson, the deployment will play out before the upcoming Cardano Summit, which is slated for next month.
Charles Hoskinson noted:
“We’ll be able to announce when the Alonzo hard fork is going to happen, and at that point you’ll be able to run smart contracts on Cardano.”