Cardano’s ADA is the top 10 best performing cryptocurrency in the last 24 hours
According to data provided by CoinMarketCap, the price of Cardano (ADA) is up about 5% in the last 24 hours. It is the best performing token in the top ten.
Following the recent price surge, the cryptocurrency has now reclaimed the sixth position by market cap, surpassing Ripple-affiliated XRP.
The market capitalization of ADA has now reached the level of $ 20 billion.
As reported by U.Today, the price of the token increased following an update from Input Output, the technology company behind Cardano, regarding the upcoming Vasil hard fork.
The high-stakes upgrade, which was originally expected to roll out in July, has been delayed due to technical challenges. In early August, Input Output CEO Charles Hoskinson said that the blockchain is in the final stages of testing, meaning there will be no significant delays.Input Output has repeatedly stressed that it seeks to eliminate all technical issues to ensure that the rollout of the Vasil hard fork is as smooth as possible.
A recent report published by Messari shows that the price of the ADA token is “more aggressive” than its peers.
While ADA is currently valued at an impressive $20 billion, the token is still down more than 80% since the rollout of the Alonzo hard fork, which eventually enabled smart contracts on one of the leading proof-of-stake blockchains.
Earlier this week, billionaire Mark Cuban said that Cardano has failed to make “much of an impact”, even though it has been almost a year since the smart contract was launched.