Binance announced its plan to support Cardano’s network upgrade and hard fork on February 27th. The exchange announced on March 1 that it will suspend the deposit or withdrawal of cryptocurrency on its platform for 5 hours.
Announcing that it will reopen deposits and withdrawals when the upgrade is complete and seen stable, the exchange announced that no further notice will be made regarding the suspension.
Cardano broke the all-time record
The upgrade seems to have arrived just in time as the ADA hit an all-time high this week. In the middle of the rally, Cardano’s market value also reached a new high of $ 43.8 billion. According to Coinmarketcap, as of the time of this writing, Cardano has risen 24.32% in the past 24 hours and is currently trading at 1.39 USD.
Currently, Cardano is the third largest cryptocurrency by market cap. The cryptocurrency has turned USDT and BNB to take the third position. The average transaction volume of crypto money has also surpassed Ethereum.
New projects are coming
Also, Cardano plans to work on several other projects to expand its reach. The team announced the integration of Glow, a programming language, into its platform on February 26th. The initiative will allow developers to add more features to the platform and build more applications.
Upgrading to Cardano’s network could make it stand out in the DeFi space as well, and ADA could undoubtedly become more attractive.