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- It seems that Cardano’s native token, ADA has returned in its bullish run
- Spike in the price of the token is highly coordinated with the recent debates on the global financial system and plans declared by the parent organization, IOHK
- It is anticipated that Cardano’s bullish run is to some extent influenced by Hoskinson’s recent announcements
Cardano is a blockchain platform which is widely known for its implementation of the distributed ledger technology (DLT). It seems that its native token, ADA has returned in its bullish run. Shortly before this article, the cryptocurrency traded at $0.099428. This was the sharpest spike in a day ever since September 25. Currently, the token is trading at $0.094553 and is up by almost 8.40% in the last twenty four hours. Clearly, Cardano is back for the bullish run. This move has even pushed its market capital to $2.99 billion approximately and contributes a total of 0.88% to the total market capital of the cryptocurrency. The daily volume stands at $609.26 million.
Cardano – A Global Financial System
The spike in the price of the token is highly coordinated with the recent debates on the global financial system and plans declared by the parent organization, IOHK. Recently in a Slot Leader Podcast, Charles Hoskinsom the CEO of Cardano elaborated the need for a global financial system and his plans to establish such a status for Cardano. The versatile blockchain system as per Hoskinson is perfectly fit for small to medium populated nations and aims at achieving parity in the global economy.
Cardano set to Offer Identities to Individuals Lacking Economic Identity
Hoskinson mentions that Cardano has been built in such a way that it acts as a global financial operating system. Closely knitted by collections of protocols, essential software and hardware, the platform not only allows people to represent the true meaning of identity and value but also govern the entire platform in just a single framework. Cardano would soon authorize stocks, bonds, equities and commodities and will become a one stop for all financial needs. Hoskinson further added that Cardano’s design will give identity to people who lack economic identity.
Cardano’s Smooth Uptrend in the Last 7 Days
It is anticipated that Cardano’s bullish run is to some extent influenced by Hoskinson’s recent announcements. Previously, this month the CEO had announced that the development team was working on deploying a voting system for the platform that would enhance the community based governance. The range of $ 0.096752 to $ 0.099749 is maintained by ADA considering the last 24 hours. Moreover, in the last seven days the token has seen a gradual increase in its value from $ 0.0756 to $ 0.0997 .
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
