The value of Cardano (ADA) has continued to surge as the cryptocurrency has touched a new all-time high of $2.20 on Saturday, May 15th.
ADA broke above the $2 ATH mark following a cynical week for the entire cryptocurrency market as the volatility of cryptocurrencies became much more obvious. A tremulous trend was recorded for Bitcoin after Tesla CEO Elon Musk announced that the company wouldn’t be accepting the cryptocurrency as payment anymore, thereby triggering an instant sell panic that saw BTC shed 15% in just 3 hours.
ADA, though had been performing well before the controversial announcement was made, trailed the negative market down to $1.50 before springing up again to clinch another all-time high.
Cardano is currently sitting above $2 and has made a 25% gain in the past week with crypto enthusiasts drawing expectations for the currency to hit a $200B market cap ahead of BNB.
More Highs For Cardano
Cardano developers are setting the grounds for an upgrade. The upgrade was recently announced by the developers to be launching in May. The Cardano Alonzo hard fork upgrade would see the implementation of smart contract capabilities to be based on the Plutus Custom-build programming framework.
The parent company of Cardano, IOHK, furthermore has secured an interesting partnership with World Mobile Group. The reason for the African partnership is to enable citizens to back up their important files via the blockchain while also providing cheaper network nodes through the blockchain infrastructure of Cardano.
Speculations that the value of ADA will continue to soar has become rampant as Peter Brandt a famous forex and cryptocurrency trader, announced a newer target for the digital asset. Brandt has predicted the price of ADA to hit $2.26 based on personal analysis.
Similarly, in a Twitter pool hosted by cryptocurrency analyst, Benjamin Cowen, requesting followers to pick a coin that would hit a $200B market cap. ADA was the obvious favourite ahead of BNB, DOGE, and XRP with 10,000 votes and a clear lead of 57%.