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December 9, 2022
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Cardano (ADA) sets new record after 18% daily increase

Cardano “to the moon!”

Cardano’s native cryptocurrency continues its impressive 2021 by setting another historic record – this time at $ 1.7.

The latest developments around the popular blockchain project founded by Charles Hoskinson have taken native digital assets to new heights. The ADA has skyrocketed by more than 800% since the beginning of the year, and its most recent ATH reached $ 1.7 earlier today.

Launched in 2015 by former Ethereum co-founder Charles Hoskinson, Cardano is an open source public blockchain platform. After years of development, the project began to pick up speed in 2021 with numerous partnerships and notable milestones.

Cardano has been very active in Africa, as the team announced some partnerships with countries in the region.

Within a few weeks, the project teamed up with the Ethiopian Ministry of Education to create blockchain-based identification systems and, later, Tanzania to provide locals with access to social, digital and financial services through its network.

Cardano’s cryptocurrency has also been adopted by several organizations. Coinbase Pro added ADA for trading on its platform, Simplex enabled direct purchases with direct credit and debit cards and, more recently, Kraken listed the stake token with up to 6% return.

Consequently, all the developments and the cryptocurrency market in progress have impacted the asset price in a very massive way.

ADA entered the new year at about $ 0.18. However, it took less than two months to rise more than five times and exceed $ 1.

Shortly thereafter, the cryptocurrency reached a new historical record and has not looked back since. Exactly the opposite, the value of the ADA continued to rise and earlier today it set its last record at around $ 1.7 (on Bitstamp).

Thus, token gains for the year are more than 830%, despite falling slightly from their peak.

Cardano is currently the 7th largest cryptocurrency, with a market cap of more than $ 50 billion.

ADA / USD. Source: TradingView

Source: CryptoPotato

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