Cardano becomes the third-largest cryptocurrency by market capitalization

Cardano (ADA) surged 15.7% over the past 24 hours, lifting its market capitalization above $64 billion.

ADA has overtaken Tether’s stablecoin USDT and Binance Coin (BNB) in the rankings of crypto-asset market capitalizations.

The rapid ascent followed the announcement of the date for deploying smart contracts on the mainnet as part of the Alonzo upgrade, scheduled for September 12.

It’s happening.

We’re targeting 12 September 2021 for the ‘Alonzo’ upgrade, bringing smart contracts to Cardano via a hard fork combinator (HFC) event.

Find out more about the journey to a new era of smart contracts, DeFi and more for #Cardano $ADAhttps://t.co/59czSxrxFO

— Input Output (@InputOutputHK) August 13, 2021

The upgrade will enable the deployment of decentralized finance (DeFi) applications.

In July, Cardano Foundation presented a five-year development plan. By 2026, the organisation aims to grow the platform’s ecosystem user base to 1 billion.

Subscribe to ForkLog news on Facebook!