Monster wins for Cardano! ADA has surged 80% in value over the past two weeks, hitting $ 2.56 a few hours ago, setting a new all-time high.

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Since then, the bears have entered the price, but then found support at $ 2,45. ADA is currently trading at $ 2.50-crucially, most of the recent gains have been maintained.

Cardano Daily Chartr YTD, Source: ADAUSD on TradingView.de

Given the upcoming launch of Alonzo, it seems that buyers are slamming in anticipation of further profits. Developer Input Output Global (IOG) has announced September 12 as the date for delivery of Alonzo. The previous all-time high of Cardano was reached in mid-May at $ 2.50.

Everything in the green for Cardano

This week’s performance has been particularly encouraging for Cardano investors. While most of the rest of the market has collapsed at $ 48,000 along with the rejection of Bitcoin, Cardano has seen gains.

Bitcoin’s mid-week resurgence caused bulls to return across the market, but this has only accelerated Cardano’s already brisk buying activity.

Cardano’s strong form curve brings its market capitalization to $ 82.6 billion. Binance Coin has also seen positive gains recently, but not as big as Cardano’s.

Currently, ADA’s total market capitalization is nearly $ 10 billion larger than BNB’s, pushing ADA into third place on CoinMarketCap.

Even though this is a huge success in itself, Cardano is still around $ 300 billion behind Ethereum. However, analysts expect that this gap could narrow with the imminent introduction of smart contracts.

Novogratz: Nobody developed on Cardano

In the past, critics have disparaged Cardano as vapourware, accusing it of being a” ghost blockchain.”

So declared that the CEO of Galaxy Digital, Mike Novogratz, said this week that developers would avoid the Cardano platform.

Tim Harrison, Communications Director at IOG, annotated the operations in the Cardano ecosystem and took the opportunity to tweet about the company’s goals. According to Harrison, few would know the extent of what is going on in the background.

“I think what a lot of people don’t understand about Cardano is the sheer scale of our ambitions. And our absolute determination to make it happen. But those who know know.“

So it remains exciting to see how the Cardano ecosystem develops.

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Text credit: Bitcoinist

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