u.today
In what appears to be one of the greatest comeback stories in crypto, Cardano ($ADA) has managed to top its January 2018 all-time high.
The cryptocurrency reached a new peak of $1.25 at 5:05 p.m. on the Binance exchange after adding five percent over the last 24 hours.
Less than a year ago, it was down an eye-popping 98.5 percent from its previous all-time high of $1.18 that was recorded on Jan. 4, 2018. $ADA is up 7,252 percent since March 13, 2020.
The market cap of Cardano has surpassed $38 billion, which makes it the third-largest cryptocurrency (behind only Bitcoin and Ethereum). This is the highest spot the token has reached on cryptocurrency charts to date.
Cardano is having its moment
$ADA has been rallying hard in the run-up to the “Mary” hard fork that will be activated on March 1. As reported by U.Today, the major protocol update will transform Cardano into a multi-asset network, making it a major Ethereum competitor. Developers will now be able to create their own tokens.
Meanwhile, Dubai-based cryptocurrency fund FD7 Ventures announced that it had started purchasing the token after deciding to liquidate $750 million worth of its Bitcoin holdings.
Cardano will have to launch one more fork before fully transitioning into the new Goguen era.