Binance Outperforms Coin: Why Is Cardano (ADA) Rising?

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Cardano (ADA) saw ATH by rising to $ 1.45 on February 27 with its price increase and settled in 3rd place with its market value. So why is the ADA price rising?

Cardano (ADA) price rose by 2583% on the annual chart, 335% on the monthly chart and 55% on the weekly chart. With an increase of 32% on a daily basis, it rose to an all-time high of $ 1.45. Here are the developments that raise the ADA.

Cardano (ADA) developments

  • Mary fork is coming: With the Mary fork update, which will be released on March 1, new tokens and NFTs will be created on the Cardano network. Digital assets in the network can be supported by multiple tokens. Cardano, who will begin the Gougen era with Mary, will enter the DeFi world. Mary update will be supported by Binance.
  • FD7 Ventures news: Dubai-based investment firm FD7 Ventures has announced that it will sell $ 750 million of Bitcoin and buy Cardano and Polkadot.
  • Glow programming language: It will develop the language into a program called Glow that will optimize smart contract operations on Cardano. Cardano, in agreement with MuKn and IOHK companies for this, will enable decentralized applications to be developed easily on the network.
  • Grayscale is looking for new cryptocurrencies: Grayscale said in its announcement that it is looking for new cryptocurrencies. Cardano (ADA) is among the crypto coins they researched.
  • Project Catalyst Fund4: The project, which started 6 months ago to accelerate the development in Cardano, is preparing for the 4th fund round. A budget of $ 2 million has been allocated for the tour, called Fund4.
  • Light wallet arrives: A new wallet has been announced for Cardano’s Mary fork update. With the light wallet named Yorori, users will be able to trade with Cardano-based assets.

ADA price

Reaching a market value of 43 billion dollars, ADA’s daily transaction volume is 15 billion dollars. ADA is priced above $ 1.30.