Cardano is highly anticipating the launch of smart-contract capabilities on its network. This would allow it to rival Ethereum and other crypto assets that already have these capacities.
The entire crypto market, including major players like Ethereum, is witnessing a resurgence of crypto assets as Cardano and others surge to new heights. According to data from CoinGecko, ADA has been able to reach a new all-time high above the $3 mark.
Cardano, which has recently shown a strong hand in recent weeks, was able to leverage on the broader green run of altcoins to reach its new peak. Interestingly, the token had vigorously attempted this height all through the second half of August, however, it was unable to break through.
In the last 24 hours alone, the cryptocurrency is up by more than 10 percent. It also ranks third on CoinMarketCap as its market cap eyes $100 billion. Data from the site has also shown that the asset has gained over 40 percent within the last 30 days.
It should be noted that Cardano is highly anticipating the launch of smart-contract capabilities on its network. This would allow it to rival Ethereum and other crypto assets that already have these capacities.
Meanwhile, Cardano’s recent performance has been able to beat Poly Market predictions about it. The information trading market had first placed a bet against its ability to support smart contracts which it lost, and it also now lost its bet against the network beating the $3 before the end of the year. As of press time, ADA is trading for $3.03, which is above the threshold Poly Market had predicted.
Ethereum, as well as Cardano, Surged to New Peaks
The second-largest crypto asset by market cap has witnessed an incredible run of its own as it was trading above $3800 within the last 24 hours.
Per data from CoinMarketCap, the asset saw a high of $3,836 and a low of $3,522 within the last 24 hours. Also, its market cap has risen by above 5 percent and it is currently around $438 billion.
Ethereum has enjoyed a resurgence in its value ever since its London Hardfork upgrade which saw the implementation of EIP 1559 and others. This has drastically helped to reduce the hitherto high transaction fees of the network and has also led to the burning of over half a billion worth of the asset burnt within the period.
Data from Watchtheburn says 167,718 units of the token have been burnt which translates to around $626 billion.
Another interesting fact to note with Ethereum’s value resurgence is the fact that its current run is independent of its more illustrious counterpart. While Bitcoin’s run has cooled and it is trading around $47,000, ETH began an upward movement for altcoins which mostly traded in the green zone.