Blockzeit
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
    • Switzerland
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
Buy Crypto
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
    • Switzerland
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
Blockzeit
No Result
View All Result
Home Business
cardano market

cardano market

Cardano Climbs On Smart Contracts News

Jay Speakman by Jay Speakman
August 14, 2021
in Business, Markets
Reading Time: 2 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

The announcement from Cardano that they plan to release their smart contracts upgrade on September 12th caused a 16% spike in the price of ADA.

Cardano climbs past $2 for the first time in almost three months after Charles Hoskinson, Cardano’s chief developer, announced a September 12th release date for the Alonzo upgrade. This upgrade would provide smart-contract capabilities and thus address one of the network’s most glaring deficiencies, according to critics.

The ADA price reached $2.16 at 3:59 p.m. on Saturday August 14th (Shanghai), the highest since mid-May, when it was trading at its all-time high of $2.31. 

It has increased by 16% in the last 24 hours (August 14th). Cardano’s market capitalization has risen to almost $65 billion, tying it with Binance coin (BNB) and Tether (USDT) for third place among all cryptocurrencies in terms of market value, trailing only Bitcoin (BTC) and Ethereum (ETH).

Will Cardano challenge Ethereum with its new upgrade?

Cardano’s smart-contract capabilities would enable it to incorporate new applications, including so-called decentralized finance (DeFi) platforms that enable automated cryptocurrency lending and trading. The enhancement might position the network to challenge Ethereum, which is now the leader among blockchains with smart-contract functionality, albeit slow and expensive.

Cardano’s head of delivery, Nigel Hemsley, stated that the IOHK platform would launch the Alonzo upgrade on Monday, September 12th. Hemsley failed to mention that September 12th is actually a Sunday.

Cardano, started by Ethereum co-founder Charles Hoskinson (but don’t mention Ethereum to him), is a blockchain that aspires to compete with (or defeat) Ethereum and other decentralized application platforms while being faster, more scalable, safe, and efficient.

Optimism is growing

Optimism is growing in a prediction market launched in July, which allows investors to wager on whether Cardano will be able to provide smart contract capability by Oct. 1. Many were gleefully betting against Cardano and now look as though they may be proved wrong.

The futures contract, which pays out $1 of the stablecoin USDC if Cardano meets the deadline, was trading at 85 cents at the time of this article. This is an increase from 30 cents on July 18, when the betting market initially opened.

Jay Speakman
Jay Speakman

Jay Speakman is a technology writer based in San Francisco, California. He writes on the topics of blockchain, cryptocurrency, DeFi and other disruptive technologies. Clients include Avalanche, Be[in]Crypto, Trust Machines and several blogs devoted to blockchain gaming. He will not rest until fiat currency is defeated.

Previous Post

Cardano’s Alonzo Purple Upgrade To Be Released on September 12

Next Post

Messi to PSG: Cryptocurrency Fan Tokens Part Of The Deal

Related Posts

swiss national bank

Swiss National Bank Evaluates If Bitcoin Can Replace Fiat Currencies

by Giancarlo Perlas
June 1, 2023
0

In a recent Cryptoassets and Financial Innovation conference held by the Swiss National Bank, economists and scholars delved into the...

neuratrade

Neuratrade: A Groundbreaking Crypto Trading Platform With AI And Scalping Technology

by Giancarlo Perlas
June 1, 2023
0

In a groundbreaking development, Swiss-based company Neuratrade has emerged as a game-changer in the world of crypto trading. Leveraging advanced...

images 2023 05 30T204047.609

XRP Achieves Record-Breaking Address Activity Spikes

by Ken Emmanuel
May 31, 2023
0

XRP has recently been the center of attention for investors and enthusiasts due to some remarkable advancements on its network....

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

SAVE 20% ON BINANCE FEES

Sign Up Here
No Result
View All Result
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
    • Switzerland
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.