Cardano (ADA) Posts New ATH of $3.10, Hoskinson Wins Another Bet Before Alonzo Uprgrade

Prashant Jha
September 2, 2021 Updated July 5, 2025
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Cardano Founder Charles Hoskinson Backs John Deaton

Cardano (ADA), the third-largest cryptocurrency by market cap posted a new ATH of $3.10 crossing the $3 barrier for the first time. The altcoin surged over 12% in the past 24-hours and has weekly gains of over 18%. The new ATH also came just a day after Cardano launched the final testnet before the scheduled Alonzo hard fork on September 12.

Cardano
Source: TradingView

Cardano has built a bullish momentum throughout August and the smart contract upgrade date only helped the bulls climb to new price highs. The altcoin also saw a key breakthrough against Bitcoin as the ADA/BTC pair broke out of a long-held range. The altcoin is now in a price discovery mode and the next target seems to be at $3.5 before ahead.

The altcoin has nearly tripled its price since August rising from under $1.20 at the start of august to reach a new ATH of $3.10. With the final upgrade just 10-day away Cardano has surprised many critics and has even won a couple of bets against it.

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Charles Hoskinson Reminds Naysayers of Their Bet

Cardano’s smart contract upgrade is seen as the biggest network upgrade since its inception giving it the ability to host Dapps and enter the heavily crowded metaverse. It will put Cardano in the league of smart-contract blockchains such as Polkadot, Ethereum, and Solana. But more importantly, Cardano has managed to execute every small change well on time.

Earlier, PolyNetwork as well as Polygon founder had bet against the smart contract integration which they lost with the Alonzo purple testnet launch. Later, Polynetwork also bet against the price discovery claiming ADA won’t reach $3 in 2021. Now that the altcoin has surpassed the said amount, Hoskinson was quick to take a dig at the critics.

Hoskinson is known for not shying away from criticism and the recent slew of developments on the platform has only made him more confident about the platform. Cardano can very soon touch $10 from here once it gets into the price discovery mode and having nearly tripled its price last month.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.