Projections estimate that ADA searches will rise by the end of the current week.
Source: Google Trend
The surging interest in Cardano started after a few vital events took place in the blockchain project.
The founder, Charles Hoskinson, recently set up new ventures and integrations with notable industry names. At the same time, the long-awaited Mary protocol update was made earlier this week. Apart from enhancing security, the upgrade added multi-asset compatibility to the network and DApps creation.
Moreover, ADA’s demand has also been on the rise in the past few weeks. A fitting example came last week when a Dubai-based investment fund announced plans to sell $750 million of its BTC holdings to use the funds for ADA and DOT.
Somewhat expectedly, the network evolution has led to a growing interest from retail investors. At the same time, crypto funds have also impacted the ADA token price.
The asset started the new year at about $0.18. Since then, it went up after a 700% surge, to a new all-time high at nearly $1.50. Despite dipping slightly since then and currently trading at $1.25, ADA is still roughly 600% up year-to-date.
Naturally, this exciting show boosted the market cap, and ADA is now the third-largest digital asset with a market cap of $38 billion.
This article first published on coinquora.com
Continue reading on CoinQuora
Source: Cryptocurrency - investing.com
