While earlier in the week Cardano (ADA) became the third-largest cryptocurrency by market cap, it reached another milestone today. The token, created by Charles Hoskinson rose to a new all-time high of $2.55. At the time of writing Cardano is trading at $2.51, for a 24 hour gain of over 18%, with a market cap of $80.69 billion. This according to CoinMarketCap data.
With the “Alonzo” upgrade set to roll out on October 1, it seems it is already having an impact on investor’s mood. With the upgrade, Cardano will finally usher in smart-contract functionality and can start taking on Ethereum for the runner-up spot behind Bitcoin.
So far, Cardano is doing pretty good and has already made 14x gains in the calendar year to date. What will happen next is very interesting, could Cardano really blow up 150x and overtake Ethereum?