The price of Cardano (ADA) has reached an all-time high

The price of Cardano (ADA) has reached an all-time high of $2.64 this morning, breaking the previous record of $2.54 set on Friday. ADA now trades for $2.58, up 4.5% from yesterday, according to data from crypto metrics site CoinGecko.

Cardano​​ is the native token of the eponymous blockchain project helmed by Ethereum co-founder Charles Hoskinson. The altcoin overtook stablecoin Tether on August 13 as the third-largest cryptocurrency, with a market cap of $82 billion. ADA’s up 17% over the past week and 116% in the past month.

Cardano’s price surge began in earnest on August 10, when Hoskinson “pre-announced” the date when smart contracts would be integrated on the platform as part of the Alonzo network upgrade later this year. Three days after that “announcement of an announcement,” the development company behind Cardano, Input Output, disclosed the date as September 12.

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