Over the last week, Cardano (ADA) posted an increase of the order of 92%, in terms of market capitalization. Of which 26,71% only during the last trading day. A sensational leap forward, which allowed the token to settle in sixth place in its ranking. Such as to push analysts and investors to question the reasons that are at the base of this real boom. By identifying two in particular. Let's go and see them in detail.
Bitcoin is dragging the entire crypto sector
The first reason behind Cardano's impetuous growth is to be found in push given to the entire cryptocurrency sector by Bitcoin. The creation of Satoshi Nakamoto in practice, it is also providing propellant to the most interesting Altcoins, pushing investors to try to participate in what at this moment looks like a party, very exciting however.
Among the most interesting projects of all, Cardano plays a very particular role. In fact, right from the start "Professors cryptocurrency", the nickname of which he was credited for his birth in the academic field, has shown excellent technical characteristics. Giving away a notable reputation on which Cardano leverages to attract the consensus of traders crypto. Which is increasingly evident.
Cardano upgrades are paying off
Technical characteristics which, moreover, are continuously updated by the Cardano development team. As happened in the year just ended, with the Shelley's launch, considered a real milestone in the ADA ecosystem.
A launch on the mainnet which has captured the interest of the community of cryptography enthusiasts also in consideration of the delays which characterized the planned launch of Ethereum 2.0, showing the high level of the project founded by Charles Hoskinson. Which will be further elevated through theimplementation of functional smart contracts, which will allow decentralized finance and dApps to flourish more and more on its network.
The opening to Solidity and the collaboration with Wolfram Blockchain Labs
Precisely in terms of smart contracts, it should be remembered that at the end of last year Cardano decided to open up to Solidity. That is to one of the main programming languages for writing smart contracts.
Furthermore IOHK has started a collaboration with Wolfram Blockchain Labs. The purpose of this partnership is the integration of the Cardano blockchain data on Wolfram Alpha, an answer-engine already known for providing the technology on which well-known services are based. Among them Siri, the famous Apple voice assistant.
Where can Cardano go?
The innovations that have been launched in recent months, and those planned for the next ones, are practically forming the ideal soil for the next growth of Cardano. In particular, creating an atmosphere of great trust not only in the large community of supporters of the project, but also among a considerable number of investors. Which, in turn, seem increasingly available to offer support also to Altcoins based not on purely speculative reasons, but on high-level projects. A group in which Cardano manages to stand out more and more. So much so as to push many analysts to foresee a real exploit in the near future. Of which, however, the first signs are already being noticed.