Cardano (ADA) Posts New ATH of $2.97, Social Media Mentions Set to Outpace BTC

By Prashant Jha
Published August 24, 2021 Updated August 24, 2021
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Cardano (ADA) Posts New ATH of $2.97, Social Media Mentions Set to Outpace BTC

By Prashant Jha
Published August 24, 2021 Updated August 24, 2021

Cardano (ADA), now the third-largest cryptocurrency by market cap has posted another ATH of $2.97 just short of the $3 mark earlier today. The altcoin has blasted through its early ATH of $2.49 only last week. The recent surge in price is followed by a ton of on-chain development and updates in the run-up to the biggest upgrade on the Cardano network in the form of the Alonzo upgrade.

Cardano
Source: TradingView

ADA price started to sore at the start of August starting at $1.36 and now it has more than doubled its price in three weeks. The altcoin has gained over 40% in the past week itself as the project neared the most hyped update on the platform.

The Alonzo hard fork scheduled for September 12 will bring smart contract integration allowing a new era of Dapps and Defi. This would also fulfil the long promise of making Cardano compete against the likes of Ethereum and Polkadot. Once the smart-contract integration is complete the Cardano blockchain would open the gates for a new era of decentralized business.

The smart contract upgrade has played a similar catalyst for ADA price as London Hardfork did for Ethereum price. With no upper limit in sight and the majority of the crypto market yet to retest their ATHs, ADA price could break new records.

Cardano (ADA) Social Media Mentions Skyrocket

Cardano also boasts of a very strong social media community and footprint which has only surged by the day as the altcoin makes new highs. According to Santiment data, the social media mentions for ADA are rising to new highs and can outpace Bitcoin (BTC) in no time.

Cardano
Source: Santiment

ADA price is now eyeing $3 and every move up from here would be a new ATH. The altcoin has already surpassed Binance Coin (BNB) to take the third spot by market cap as its valuation is also nearing $100 billion. With just a couple of weeks to the Alonzo upgrade, Cardano can finally live up to the hype of “Ethereum Killer.”

 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1090 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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