Cardano (ADA) has become the third most valuable cryptocurrency in the market after blasting to a new ATH earlier today.
ADA Smashes Record High
ADA, the native currency of the Cardano network has spiked over 20.35% in the past 24 hours. It is currently worth $2.51 per coin after hitting its lifetime high of $2.55 in the morning hours on Friday. This is the coin’s highest level since the high of $2.46 registered in May.
ADA has overtaken Binance (BNB) to become the #3 cryptocurrency with a market capitalization of $81 billion, behind only Ethereum (ETH) and Bitcoin (BTC). ADA’s price violent upswing is largely fueled by the forthcoming Alonzo hard fork which will deploy the much-awaited smart contract functionality to the Cardano ecosystem.