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Cardano’s Testnet For Smart Contracts Has Been Successfully Upgraded

Cardano has stated that the hardfork of the Alonzo testnet, which took place on September 1st, was a success, bringing the project one step closer to the Mainnet debut on September 12, 2021.

 

According to its parent firm, IOHK, the deployed improvements are integrating as planned, and extensive testing is taking place to ensure that everything is ready for the imminent hardfork.

 

In response to the news, Cardano’s native cryptocurrency ADA increased by 10% on the day, reaching a new all-time high of $3.10 from a starting price of $2.81. The ATH is also unsurprising given the steady gains in the price of ADA seen in August as a result of the buildup in expectation of the successful deployment of smart contracts functionality on the testnet and Mainnet.

At the time of publication, ADA was up 2%, trading at $2.99 after a minor price adjustment. Furthermore, the constant price increase in August has placed ADA as the world’s third-largest cryptocurrency by market capitalization, after only Tether and Bitcoin Cash.At the time of publication, ADA was up 2%, trading at $2.99 after a minor price adjustment. Furthermore, the constant price increase in August has placed ADA as the world’s third-largest cryptocurrency by market capitalization, after only Tether and Bitcoin Cash.At the time of publication, ADA was up 2%, trading at $2.99 after a minor price adjustment. Furthermore, the constant price increase in August has placed ADA as the world’s third-largest cryptocurrency by market capitalization, after only Tether and Bitcoin Cash.

According to CoinMarketCap data, ADA has climbed 135 percent in 30 days, from $1.32 to the current ATH of $3.10. This achievement has seen ADA rapidly approach the $100 billion market cap (at $97.5 billion) and close the large gap between its market cap and that of Ethereum ($443.2 billion), which is ranked second.