What technology and market triggers are behind Cardano’s (ADA) massive rally? And what achievements can the “Ethereum killer” achieve in the near future?
Cardano (ADA) above $ 0.40 for the first time since February 2018
Today, February 2, 2021, the price of the Cardano (ADA) token has risen above $ 0.42 on all major spot trading platforms. It was at this level in February 2018.
In 2021, the Cardano (ADA) price increased by 133.5%. Compared to the lows of Black Thursday (13 March 2020) in the crypto markets, the price of Cardano (ADA) has increased by 18 times.
This impressive result was achieved by Cardano (ADA) in the middle of a strong “altcoin season” that catalyzed the prices of all major companies. Also today, the local asset of the leading crypto exchange Binance, Binance Coin (BNB), has topped a new all-time high of over $ 51, while Ethereum (ETH) has also made a significant rise.
Two magnificent Dogecoin (DOGE) and XRP spikes preceded this rally. The DOGE pump was probably the fastest 1,000 percent rise in crypto history as it lasted less than 24 hours. DOGE investors’ profits inspired a brief but strong XRP surge, according to some analysts.
New delegation interface released, testnet is in order
With regard to Cardano (ADA), these price fluctuations are followed by a number of technological infrastructure. Yesterday, on February 1, 2021, Input Output Honk Kong introduced a new delegation center in Daedalus 3.2.0 wallet. This will facilitate the process of transferring the ADA token to the staking pool.
With the new version, the entire delegation process becomes easier, more transparent and more flexible, while users adhere to changes in the delegation environment.
Also, on February 3, 2021, the public test network will be activated. The relevant proposal was successfully submitted to Cardano’s codebase three days ago.