Over the past day, the value of the digital coin has grown by almost 15%, and its capitalization has exceeded $ 92.4 million
The price of the Cardano cryptocurrency has renewed its all-time high at $ 2.9. Over the past day, the value of a digital coin has grown by almost 15%. Cardano’s capitalization has surpassed $ 92.4 million, according to CoinGecko. Over the month, the cryptocurrency has grown by 142%.
Cardano has doubled in price. What is the reason and what will happen next?
Cardano’s price rises ahead of the blockchain update. Tim Harrison, Marketing and Communications Director of IOHK (the issuer of Cardano), announced the release of the Alonzo hard fork on September 12, which will add support for smart contracts and the ability to create decentralized applications (DeFi) to the Cardano blockchain.
DeFi is financial instruments in the form of services and applications built on the blockchain. The main goal of decentralized finance is to become an alternative to the banking sector and replace traditional technologies of the financial system with open source protocols.
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