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The fourth-ranked cryptocurrency ADA, as per CoinMarketCap, has been trading above the $2 level since Friday, August 13, and at the moment it is sitting at $2.16.
This is 9 percent lower than the all-time high of $2.46 that ADA reached three months ago on May 16.
Friday was the day when the date of the smart contracts launch on Cardano was going to be announced. The anticipation made the market push the price first close to the $2 level and then – above it.
It also became the top-three cryptocurrency on the CoinGecko platform.
Finally, the data was named. The Alonzo hard fork is going to be rolled out on the Cardano blockchain on September 12, enabling developers to create smart contracts.
Prior to the announcement, the native cryptocurrency of Cardano had shown a 50-percent rally within a week, surpassing many other altcoins in the market.
By now, however, ADA has gone a little lower and is trading at $2.15, which has increased the gap between the current price and the ATH.