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Cardano's ADA token is now world's third-largest cryptocurrency

With the so-called ADA crypto jumping around 50% over the past week alone, optimism is rising that new technological enhancements will allow smart contracts on Cardano by its announced goal of Sept 12

Cardano ADA Token
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In a rally met with skepticism by some big industry names, the ADA token now has a market value of more than $69 billion -- bigger than all rivals except Bitcoin and Ether, according to tracker CoinGecko

Joanna Ossinger | Bloomberg
A little-known digital token linked to the Cardano blockchain has just become the third-largest virtual currency in the world as network developers look to ride the boom in decentralized finance.

With the so-called ADA cryptocurrency jumping around 50% over the past week alone, optimism is rising that new technological enhancements will allow smart contracts on Cardano by its announced goal of Sept. 12. That will enable its network to offer lucrative services like DeFi, where Ethereum currently dominates.

In a rally met with skepticism by some big industry names, the ADA token now has a market value of more than

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First Published: Aug 17 2021 | 5:30 PM IST

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