The cryptocurrency Cardano (ADA) continues its positive streak of several days and now, together with Bitcoin SV and Polkadot, it is leading the rise in this market. It is an important step for this project that, according to its creators, is an improvement of Ethereum and Bitcoin.
It is important to note that Cardano has entered the top ten of CoinMarketCap, as the ninth coin with the highest market capitalization. At the same time, the streak of this cryptocurrency reaches 6 consecutive days in a positive way.
Another important aspect of this fact is that the Cardano digital currency has reached its highest price since last September 3. At the time of writing, its price is located at $ 0.103686 USD per coin. Meanwhile, its market capitalization is $ 3.2 billion.
Cardano leads the rise of cryptocurrencies with Polkadot
This beginning of the week, it has reported positive numbers for the most important of the digital currencies. In this sense, Cardano, along with Bitcoin SV, leads the market rise, according to data taken from the CoinMarketCap website.
While Cardano’s increase has been approximately 6.58%, that of Bitcoin SV is 5.24%. On the other hand, the best percentage of this beginning of the week is that of Polkadot, whose growth is expressed in 8.11% and occupies the sixth place in market capitalization.
Another cryptocurrency whose growth should be highlighted is Algorand. This coin, although it is not in the top ten of market capitalization, its percentage growth was 10.25%.
In this way, the cryptocurrency market starts the week positively. Of the top 20 digital currencies in market capitalization, ranked by CoinMarketCap, only 3 woke up in the red.
Bitcoin also in green
At the same time that Cardano is leading the rise in cryptocurrencies, the most popular of these assets, Bitcoin, is also showing growth. The price of Bitcoin, at the time of writing, is $ 10,900 USD, which represents a growth of 1.33%.
It should be considered that the most popular of the cryptocurrencies, despite having suffered some stumbles, has remained above the barrier of $ 10,000. According to analysts, it is a strength that represents the maturity of this cryptocurrency.
What is Cardano?
The Cardano project, according to its creators, is an update that overcomes the limitations of Bitcoin, on the one hand, and the scalability problems of Ethereum on the other.
Cardano is a whole Blockchain ecosystem, behind which is the ADA cryptocurrency, which is leading the rise in crypto this week. In other words, throughout this article, ADA, the digital currency of Cardano, has been talked about.
The ecosystem as a whole is made up of the ADA cryptocurrency, as well as network options for smart contracts. In addition, this platform is made up of two layers, the first of which is the Cardano Settlement Layer (CSL), with which transactions are settled in ADA.
The second layer, (Control Layer) is where the smart contracts are made, which make this project very similar to Ethereum, Tron or EOS. According to its official page, to create Smart Contracts in Cardano, you must speak the two programmed languages of the network.
Haskell and Plutus
Cardano’s languages for structuring smart contracts on its network are Haskell and Plutus. The first is used to encode Cardano, while the second, for the creation of the contracts as such.
Smart contracts in Cardano are ideal “for financial start-ups, analysts, or those in the fintech community, as well as for universities that might use it for testing within their financial courses”, They explain on their website.
Data to take into consideration
- Cardano, along with Polkadot, led the rise in cryptocurrencies earlier this week.
- Another of the digital currencies that reported positive growth was Bitcoin SV.
- Cardano’s ADA price, at the time of writing, is $ 0.103686 USD.
- In the same way as EOS and Tron, Cardano’s Blockchain network allows the creation of smart contracts.