Author Topic: 400% Gains in a Week: Mysterious Cardano Token Skyrockets to Billions  (Read 458 times)


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All eyes have been on Bitcoin recently, as the cryptocurrency surpassed the $10,000 historic milestone for the first time in its nine-year history. The cryptocurrency’s rally continued its upward trajectory, up to $11,082 at press time. Its market cap hit $185 billion, and its dominance is currently at 55.2%. The cryptocurrency ecosystem’s market cap recently hit $335 billion.

While Bitcoin surged, a somewhat unknown cryptocurrency, Cardano (ADA) was surging as well. In the last 24 hours, Cardano surged 142.41% to a $3.5 billion market cap. The cryptocurrency’s ADA token, whose circulating supply is of 25.9 billion and max supply is 45 billion, saw its value surge from little under $0.03 to over $0.14 in the past week. At press time, the price seems to have corrected to $0.12.

Behind the surge seems to be the anticipation of the project’s next roadmap announcement, expected to come this weekend. Cardano has notably partnered with leading cryptocurrency development company IHOK, and has a team of academics and cryptographers, including Ethereum co-founder Charles Hoskinson.

Another factor that presumably allowed the cryptocurrency to surge was a new trading pair with Ethereum on the Bittex exchange. Some of the cryptocurrency’s proponents believe its technology is better than that of Ethereum, and as such that it will take over.