Cardana is one of the cryptocurrencies which has the strong potential to reach heights. Even when the market was down Cardano surpassed other mainstream cryptocurrencies and surged to its ATH. ADA was presenting upward momentum during the crackdown of the crypto-market, while other crypto-assets like BTC and ETH were struggling.
After its highest hit in May, ADA has again quickly touched $2 on Friday cracking its heavy resistance level. Moreover, ADA climbed its all-time high to $2.45 in May and has been bullish for the past few months.
Significantly, the main reason for the price hike of ADA was the smart contracts around the corner, says the crypto expert, Lark Davis. Since then, Cardano has been witnessing a “very bullish catalyst”.
#cardano smart contracts are just around the corner, which is a long awaited and very bullish catalyst for the asset
— Lark Davis (@TheCryptoLark) August 13, 2021
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Additionally, Davis describes that when users start to use Cardano’s smart contracts after the launch then ADA will reach 200%. He also adds “Does that mean that ADA will pull a 50X as Matic did? No. A mere 6X would give it the same market cap as Ethereum.”
Performance of ADA For The Day
According to Coinmarketcap, ADA is trading at $2.00 with a trading volume of $6,768,760,355 in the last 24-hours, at the time of writing. Moreover, ADA has surged up to 18.37% within 24 hours and has positioned at 4th rank.
ADA was the fifth-largest cryptocurrency in the market but it has now positioned one-step nearer to the top three mainstream-cryptocurrency. Besides, ADA has the potential to reach higher and it will surpass ETH soon.
On the other hand, BTC was struggling a month ago to crack its resistance level at $34,000. After a healthy fight, BTC has now created its support level at $40,000 and continues to focus on $47,000. So far, the challenges that BTC has faced have been enormous, but it has not subsided, and the price-chart is now marching towards $50,000. With the on-going developments, BTC may rise higher, whereas ADA has the strong potential to reach new ATH in the near future.
