700% increase in 7 years! This token has surged again, with a market value exceeding 30 billion USD!
In the past month, Cardano disappointed investors as its native token ADA's price once dropped from a high of $1.09 to $0.5.
However, recently benefiting from Trump including it in the cryptocurrency strategic reserve plan, the price of ADA tokens has strengthened again, approaching $1, with a total market value exceeding 30 billion USD.
At the same time, the daily trading volume of ADA surged to as high as 3 billion USD, indicating that investor interest in ADA is expanding, attempting to return to previous price highs.
The native ADA token is named after 19th-century mathematician Ada Lovelace, who is widely regarded as the world's first computer programmer. The ADA token is designed to ensure that holders can participate in the operation of the network. Therefore, holders of the cryptocurrency have the right to vote on any proposed changes to the software.
The team behind the layered blockchain states that its technology has some compelling use cases, aimed at allowing decentralized applications and smart contracts to be developed in a modular way.
In 2020, Cardano underwent the Shelley upgrade, aiming to make its blockchain "50 to 100 times more decentralized" than other large blockchains.
The Alonzo hard fork launched in September 2021 ended the Shelley era and ushered in the Goguen phase. Users can develop and deploy smart contracts on Cardano, allowing for the construction of native decentralized applications (DApp) on the blockchain.
On September 2, 2021, the ADA token reached its peak, breaking the $3 mark and setting a new historical high.
