Cardano (ADA), the native token of the proof-of-stake blockchain platform, is ultra bullish, rising by 13.2% over the past day. As a result, it hit a 12-week high of $2.03 in the last 24h.
Based on CoinMarketCap, Cardano's price is trading at $2.03 with a 24-hour trading volume of $6,381,195,581 at the press time. This means Cardano is up 12.61% in the last 24 hours. The coin is likely to keep increasing. And looking at the market, it might even approaches $2.5 soon. However, traders should proceed with caution as crypto is volatile.
This incredible performance brought the crypto to 4th place on the CoinMarketCap ranking list. In other words, ADA has become the 4th largest crypto by market cap with over $65 billion. In addition, Cardano (ADA) has a circulating supply of 32,112,250,106 ADA coins and a maximum supply of 45,000,000,000 ADA coins.
Founded back in 2017, Cardano is an open-source project that aims to “redistribute power from unaccountable structures to the margins to individuals.” Also, it intends to help create a society that is more secure, transparent, and fair.
More so, the ADA token is designed with the goal to ensure that owners can engage in the operation of the network. With this, ADA token holders get the right to vote on any proposed changes to the software.