From being a lesser-known cryptocurrency, Cardano (ADA) has raced to become third-largest after its price surged touched an all-time high surpassing Binance’s native token, as per market valuation.
At the current price of $2.82, Cardano’s market capitalisation stands $90.60 billion, according to CoinMarketCap. Its price has gone up by nearly 11.3 percent in the last 24 hours. Its year to date is also much higher than Bitcoin and Ethereum as it is currently at 1,444 percent.
The cryptocurrency market has been rallying in the last two weeks with the total market capital surging past $2 trillion. Bitcoin and Ethereum have been leading after they plummeted in mid May. Meanwhile, new altcoins have also rallied in the price race.
Cardano is a proof of stake blockchain and is considered a direct rival of Ethereum and Solana. Its recent price surge came after the upcoming ‘Alonzo’ upgrade was recently announced.