Cardano (ADA), one of the cryptocurrencies, rose from the level of $ 0.98 on February 26, 2021 and reached the level of $ 0.33 as of the morning of February 27. 2021 ADA coin, which has experienced an increase of about 25 percent in 22 hours, has settled in the third largest crypto money position in terms of market capitalization.
Cryptocurrencies continue to be on the agenda and dominate the market with the introduction of Bitcoin into our lives. Finally, Cardano (ADA) coin rose to $1.37 on February 27, 2021 with the price increase it saw, seeing ATH and placing 3rd with its market value. Cardano (ADA) price rose 2583 percent on the annual chart, 335 percent on the monthly chart, and 45 percent on the weekly chart. It rose 32 percent on a daily basis to an all-time high of $1.37.
Cryptocurrencies continue to be on the agenda and dominate the market with the introduction of Bitcoin into our lives. Finally, Cardano (ADA) coin rose to $1.37 on February 27 with the price increase it saw, seeing ATH and placing 3rd with its market value. Cardano (ADA) price rose 2583 percent on the annual chart, 335 percent on the monthly chart, and 45 percent on the weekly chart. It rose 32 percent on a daily basis to an all-time high of $1.37.
This rise also made ADA take a big leap in terms of market cap, and Cardano coin is now the 3rd largest cryptocurrency by market cap. With a market capitalization of $41 billion, ADA, which took the third place from Binance coin (BNB), has Ethereum (ETH) with $ 172.6 billion. With a market capitalization of $35.3 billion, BNB is also just below ADA.
Currently, ADA has a market cap of $39.6 billion.
What is Cardano (ADA) coin?
Cardano is a platform with the ADA crypto system that can be used to send and receive cryptocurrencies. This cryptocurrency represents the future of money and enables fast, direct transfers that are guaranteed to be secure with cryptography.
Cardano is not just a cryptocurrency, it is a technological platform that can run financial applications used by individuals, organizations and governments around the world every day. The platform is built in blocks to make it easier to update the system and upgrade with soft forks. Upon completion of the core layer that will govern ADA, a separate computational layer will be created to handle smart contracts, digital legal agreements that will support future trade and business. Cardano will also run any decentralized applications or dapps (system that directly connects users and suppliers) services that run on a blockchain instead.
The innovation Cardano offers is that it balances users’ needs with the demands of regulators and combines privacy with regulation. Cardano’s vision is that the newly regulated computing style will enable greater financial inclusion by providing open access to fair financial services to all.
What is ADA token?
ADA is Cardano’s token and is named after 19th century mathematician Ada Lovelace. 57.6 percent of the ADA supply was distributed in an Initial Coin Offering (ICO), where Cardano raised $62.2 million. The token is both a digital currency and makes it possible to make transactions on the Cardano network. ADA holders also own a stake in the Cardano network, which can be used in staking pools to earn staking rewards. Cardano staking can also be done through Binance Earn.
Cardano’s native currency, ADA, is used to transact on the Cardano blockchain. The relationship between Ada and Cardano is very similar to that of ether (ETH) versus Ethereum.
Founder Charles Hoskinson
The founder of Cardano is Charles Hoskinson. He is a blockchain developer and co-founder of multiple key projects in Blockchain. Besides Cardano, Charles is also among the founders of Ethereum and Ethereum Classic. In 2013, Charles Hoskinson, together with EOSIO co-founder Dan Larimer, launched Invictus Innovations, the first blockchain and cryptocurrency startup.
Whay is ADA rising
Behind Cardano’s rise is the Mary update, which will be available on the mainnet as of March 1 and is already running on the testnet. With the Mary update, developers will be able to start creating tokens on the Cardano network. In this case, demand for Cardano is expected to increase.
Even the introduction of Mary on the testnet had increased the price at that time. Although the market experienced a general decline after the community announced that Mary will be available on the mainnet as of March 1, 2021, ADA has resisted the decline and has performed well over the past 24 hours.
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