Cardano climb over $2 mark for the first time as developer announced release date Alonzo





 Cardano climb over the US$2 mark for the first time in almost 3 months as key developers announced a release date for the planned "Alonzo" hard fork on Friday, which will allow full smart contract functionality on the network.

The upgrade to Cardano's mainnet completes the Alonzo suite of upgrades, slated for full release on September 12, it was divided into Blue, White and Purple stages which have been slowly implemented over the past few months.

The most recently launched in the testnet phase earlier this month Alonzo Purple makes the native currency of the network ADA surge more than 20% in 24 hours.

On Sunday, in anticipation of Friday's release, the price movement continued to reach a high of US$2.20 with over a 50% increase within a week. Now presently trading at $2.15 as of the time of writing this article.

The increase in trading price makes the fourth largest coin by market cap at nearly $69 billion close in on Binance Coin's position in third place.

The integration of smart contracts to Cardano will bring both decentralized finance applications to run on the networks and minting of non-fungible tokens to its mainnet for the first time. It is also slated to support an ERC20 converter, allowing ETH tokens to run on the network.



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