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Cardano’s (ADA) price hit a record $ 2.64 this morning, beating the previous record set on Friday of $ 2.54. The island is trading at $ 2.58, up 4.5% from yesterday, according to crypto metrics website CoinGecko.

Cardano is the native token of the blockchain project of the same name, led by Ethereum co-founder Charles Hoskinson. On August 13, altcoin surpassed stablecoin Tether as the third largest cryptocurrency with a market capitalization of $ 82 billion. The island was up 17% last week and 116% last month.

Cardano’s price rise began in earnest on August 10, when Hoskinson “pre-announced” the date when smart contracts would be integrated into the platform as part of a revamp of Alonzo’s network at the end of this year. Three days after this” announcement announcement, ” Input Output, the development company behind Cardano, announced the date of September 12.

Last month, Cardano received a big boost when investment firm Grayscale’s large-cap Digital Fund added an asset to its portfolio. At the time of writing, 4.26% of the fund is invested in the island. 67.47% of the fund is held in bitcoin and 25.39% in Ethereum.

What is Alonso Cardano’s distribution and what does that mean for Ethereum?
Other cryptocurrencies in the top 10 today are not participating in the Cardano celebrations. All of which is a vague hint in the red for the Sunday, where bitcoin and Ethereum fell 0.7% and 1.5% respectively.

Bitcoin approached $ 50,000 yesterday, reaching $ 49,700. But the drop in that price mark proved too high; the price has since fallen to $ 48,800.

Overall, however, the cryptocurrency market has recovered strongly after the spring crash and summer crisis. On Friday, the total market capitalization of cryptocurrencies once again exceeded $ 2 trillion. As rising numbers bring back joyful memories of spring, Cardano is having the time of his life.

Author’s opinions and opinions are for informational purposes only and not financial,

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