The Ethereum rival aspires to be the Amazon of blockchain
On August 10, Cardano’s founder Charles Hoskinson announced that they would upgrade its blockchain in September, which would enable smart contracts on its blockchain and increase its use cases. The news had a direct impact on Cardano’s token, whose price more than doubled to $3 per token in less than two weeks following the announcement, making it the world’s third largest cryptocurrency.
After it reached all-time high (above $3), ADA fell below $2.5 as investors started selling and booked profit. The digital coin has been hovering around the same level since then, but with the actual development only a couple of days away, will the market see another pump in its price? This is what happened with many currencies such as Bitcoin, Ethereum and Dogecoin. Watch Muqaddas Shahzad of Ilme Aalim, a YouTube channel that closely monitors the crypto market, answer this question and more by SAMAA Money’s Farooq Baloch.