Cardano Broke $3 For The First Time Ever: Price Analysis

Cardano broke $3 for the first time ever and set a new all-time high as it managed to break its former highest level just today so let’s read more in our latest Cardano ADA news.

Cardano’s ADA set a new high moments ago and surged past the $3 price point for the first time in history. Cardano broke $3 for the first time in history and it is up by 10% in the past day, solidifying its place as the top 3 coins by market cap which now eyes at $100 billion. At the time of writing, Cardano is trading at around $3.08 which came on the back of the broader market increase as its highest level.

Bitcoin gained a little over 4% over the past 24 hours and it is eyeing the $50K mark while ETH increased by 7% and it is eyeing the $4K price level. The total market cap is over $100 billion in the past day alone and it sits at $2.3 trillion as per CoinGEcko. ADA’s gains on the other hand came ahead of the much-anticipated launch of smart contract capabilities on the Cardano network which is something that the community was eager to see in quite some time.

As recently reported, Input-Output Hong Kong-IOHK partnered with EBU with a goal to make education in developing African countries more affordable and accessible. The research and development organization announced the collaboration earlier this week.

Cardano garnered more attention from the crypto crowd recently as teh dollar value of the native token hit an ATH of $3. The on-chain data from social media platforms confirmed that ADA became the most talked-about digital asset over the past few days. The popular DLT project Cardano partnered with the Ministry of Education of Ethiopia to work on the blockchain-based national ID system. The network will be based on the Atla PRISM and it will allow for the creation of secure records of education performance for 3500 schools and more than 5 million students giving all of the students verifiable digital qualifications and increasing social mobility.

As recently reported, the developers at Input-Output Global teased the Djed stablecoin which they described as an algorithmic token for the proven price stability. Djed is algorithmically controlled to be stable and CEO Charles Hoskinson spoke about it in a video he posted, saying that IOG has been experimenting with the concept of stablecoins for the past three years and this includes investigating different types like algorithmically backed assets and CBDCs.