Cardano Surpasses $3 for the First Time Ahead of the Smart Contracts Launch

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Cardano Surpasses $3 for the First Time Ahead of the Smart Contracts Launch
Cardano Surpasses $3 for the First Time Ahead of the Smart Contracts Launch

At 2:00 a.m. UTC, with the upcoming launch of smart contracts on the testnet, Cardano (ADA) broke the $3 mark on the Binance Exchange for the first time.

The cryptocurrency is up more than 10% in the past 24 hours, solidifying its place as the top 3 coin by means of total market cap, which currently eyes $100 billion.

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ADA/USD 4H Chart. Source: TradingView

Bullish Cryptocurrency Market

At the time of this writing, the cryptocurrency is trading at around $3.08.

This comes on the back of a broader market increase.

Bitcoin gained over 4% in the past 24 hours and is once again eyeing the coveted $5K mark, while Ethereum’s ETH is up more than 7%, currently trading above $3760.

The total cryptocurrency market capitalization is up over $100 billion in the past 24 hours alone, right now sitting at $2.3 trillion, according to CoinGecko.

After Solana (SOL), ADA is the stock that has risen the most in the past week.

The native cryptocurrency of the largest proof-of-stake blockchain rose more than 1,567% in 2021.

Because of its amazing price hike, ADA has received more and more news in the mainstream media.

Smart Contract Launch on the Testnet

ADA has worked hard to put the long-awaited Alonzo upgrade together.

According to a recent announcement by IOG, the Cardano test network now officially supports smart contracts.

The team said final testing and integration will now take place before the mainnet launch, scheduled for September 12th.