Cardano (ADA) outperforms the top 50

The Cardano (ADA) course is still on the upswing as the eagerly awaited upgrade “Alonzo” is just around the corner. With Alonzo, Cardano will receive smart contracts and, at least according to the ambition of the project, could become serious competition for the smart contract pioneer ETH. Cardano founder Charles Hoskinson will announce when exactly this will happen later in the day.

Cardano bulls (still) repel their horns

At the time of writing, ADA is trading at $ 2.026. The prospect of a specific start date for the Cardano Smart Contracts, which form the basis for a flourishing ecosystem of decentralized applications (dApps), gives the ADA course a strong daily increase of 12.6 percent at the time of going to press. With this, Cardano clearly outperforms the other top 50 coins.

Within the last 24 hours, the Cardano exchange rate scratched the USD 2 mark several times, but so far there has been no convincing breakthrough.

Even if the USD 2 level still presents itself as strong resistance, Cardano is looking back on a bullish week. The ADA rate increased by a whopping 43.4 percent in a 7-day comparison. It will be interesting to see whether, after Hoskinson’s Alonzo update, a scenario of the brand “Buy the rumor, sell the news” will unfold, or whether it will provide the necessary impetus for overcoming the $ 2 mark in the long term.