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Cardano has landed the third spot, by market capitalisation, in the crypto space after the recent “Mary” hard fork. The Cardano blockchain will become a “decentralized, multi-asset (MA) smart contract platform" and this means that non-fungible tokens (NFTs), decentralized finance (DeFi), and smart contracts are all coming to the network.
The next tech social media, marketing, and broadcasting giant, Markethive, has also moved to the Cardano blockchain from Ethereum. The Markethive Coin, MHV, about to be launched on principled exchanges, is now a Native token on Cardano’s isomorphic multiparty state system instead of an ERC-20. Cardano provides much smaller transaction fees, greater security & faster application speeds which is significant news for Markethive, making the ecosystem stronger, quicker, and secure.
Cardano is a blockchain platform for changemakers, innovators, and visionaries, with the tools and technologies required to create the possibility for the many, as well as the few, and bring about positive global change. Cardano is a proof-of-stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods. It combines pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies.
With a leading team of engineers, Cardano exists to redistribute power from unaccountable structures to the margins – to individuals – and be an enabling force for positive change and progress.
This shared post below, by Nicholas Otieno, explains Cardano's latest achievement:
ADA, the native crypto of Cardano, has made headlines currently as its value has risen immensely, making it the third-largest cryptocurrency by market capitalization. The crypto has broken to a fresh all-time high of $1.37 per coin, up 10% in the last 24 hours. The cryptocurrency increased its price by 13% in the past week, 269% in the last month, 645% in the last 90 days, and 2,633% since last year.
Although Bitcoin (BTC) and Ether (ETH) have held the first and second spot in terms of market capitalization, they are struggling to maintain their rally. ADA has surged and surpassed Tether dollar-backed stablecoin (USDT) and Binance’s BNB to climb into third place.
ADA has replaced Binance (BNB) as the third-largest cryptocurrency whose market cap is now about $40 billion, $5 billion more than Binance (BNB).
Bitcoin and Ether have suffered under a price correction following months of double-digit percentage gains. Bitcoin fell 6% on the day to $46,800 while Ether is down 6% at $1,490 at the time of writing this article. ADA is currently trading at $1.37, up 10% in the last 24 hours.
As per data from Nomics, ADA is the best performing cryptocurrency in the top 20 this year. Just like Dogecoin, ADA has performed well despite not being listed in Coinbase, a primary gateway for main street US investors.
One major factor is Cardano blockchain’s hard forking at the start of the month of March. After the “Mary” hard fork, Cardano blockchain will become a “decentralized, multi-asset (MA) smart contract platform" and this means that non-fungible tokens (NFTs), decentralized finance (DeFi), and smart contracts are all coming to the network. Cardano is making such integrations and upgrades at a time when it is getting mainstream media attention.
The second factor that seems to drive ADA’s price up is this week’s news that FD7, a Dubai investment company, sold $750 million in Bitcoin so that it could purchase ADA and Polkadot. Since ADA is trading close to a dollar and Cardano has lots of developments, FD7Dubai investment company is likely to make bigger returns.
Cardano was launched in 2017 and is majorly backed by business venture Input Output Hong Kong (IOHK). Cardano blockchain and ADA was created by Ethereum co-founder Charles Hoskinson, who is now the CEO of IHOK. It seems the growth in terms of the use and utility of the Cardano ecosystem is the reason behind the recent market momentum. The ecosystem’s developments have helped build something people are buying.
Article produced by Nicholas Otieno - Read the full article:
