Cardano breached the US$2 mark for the first time in almost 3 months as key developers announced a release date for the planned “Alonzo” hard fork on Friday, which will allow full smart contract functionality on the network.
- Slated for full release on September 12, the upgrade to Cardano’s mainnet completes the Alonzo suite of upgrades, — divided into Blue, White and Purple stages — which have been slowly implemented over the past few months. Alonzo Purple, the most recent, launched in its testnet phase earlier this month, which saw the native currency of the network — ADA — surge more than 20% in 24 hours.
- In anticipation for Friday’s release, that strong price movement continued to reach a high of US$2.20 on Sunday – an increase of over 50% within a week. Hovering at that point coming to the week before dropping slightly, it was trading at US$2.15 at press time. The surge in interest has seen the fourth largest coin by market cap at nearly US$69 billion close in on Binance Coin’s position in third place, which is at almost US$71 billion.
