Cardano (ADA) bulls successfully sent it above $3 for the first time this year, sending prices to an all-time high of $3.10. It is the month of smart contracts and the price swing, which many analysts had been anticipating for a long time now, is reinforcing the fact that demand for ADA is rising meteorically.
ADA bulls have been teasing $3 since mid-August. Cardano was one of few altcoins that many consider having escaped the bloodbath in May and June. Recall that during the dip, ADA was sustaining gains while trending on social platforms as supporters branded it a better Ethereum substitute. Sustaining prices through June and July helped to speed up the rally to its new high as the bulls only needed to maintain the bullish momentum.