Cardano’s ADA token made a triumphant return to the $2 mark on Aug. 13 as weekly gains topped 50%.
Data from Cointelegraph Markets Pro and TradingView showed ADA/USD quickly shooting higher during Friday after overcoming heavy resistance.
At the time of writing, the pair circled $2.07 and was continuing to climb, gaining $0.25 overnight.
$2.07 marked ADA’s highest price since May 18 and the start of the cross-crypto price rout engendered by China’s mining shakeout.
The move was accompanied by impending technological upgrades, notably smart contracts on Cardano, something popular trader Lark Davis described as a “very bullish catalyst.”
“A mere 6X would give it the same market cap as Ethereum,” he noted, forecasting potential gains of “several hundred percent” once the smart contract feature goes live.
