Evening
So as expected, Cardano's native coin ADA has got a nice pump, with price skyrocketing by about 20% in last 24 hrs and has swept pass BNB by market cap taking 3rd position. The rally resulted in ADA getting a new all time high of $2.54, since the mid May's best of $2.47.
ADA's bulls runs has been led by the positive market sentiment as Cardano lead developer 'Input Output' recently announced 12th September to be the release date of much anticipated Alonzo upgrade.
Alonzo Purple public test net launch will finally bring in the smart contracts functionality to Cardano blockchain, allowing it to incorporate functionalities like defi, NFTs and many more.
Decentralized finance world has seen prolific growth over the last year and Cardano was missing most of the action due lack of support for smart contracts. Many critics have criticized Cardano for the shortcoming, considering the blockchain pitches itself as a challenger to Ethereum; a leader in smart contract realm.
Although introduction of Smart Contract functionality will open new horizons will endless possibilities for Cardano but it would still have a long way to go ahead for having any chance of competing with much established Ethereum network. Despite the recent all time, ADA's market cap of around $80 billion is way lesser than Ethereum's $380 billion.
But with that being said there is an over positive market sentiment for Cardano as shown by CryptDiffer's latest 'State of Staking' ranking. ADA leading the list of coins staked, is an indicator of people's trust in it.
Fingers Crossed...
Posted Using LeoFinance Beta
Where can I find dapps for cardano ? Which wallets to use for cardano are the best? Thx
You can use Pancakes or Apeswap.
Posted Using LeoFinance Beta