Cardano price jumps 18% as market capitalisation tops $80bn

In the past 24 hours, Cardano (ADA) rose by 18.4% to a fresh all-time high. At the time of writing, the token trades above $2.50.

ADA ranks third among the largest crypto assets by market capitalization, with a figure of $80.8 billion. According to CoinGecko, the nearest rival — Binance Coin (BNB) — is worth $66.1 billion.

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

In August, the project’s founder Charles Hoskinson announced the forthcoming date for the launch of smart contracts under the Alonzo upgrade. After that, Cardano’s price began to rise, and the coin entered the top three by market capitalisation.

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