News emanating from Binance today confirmed that they would assist Cardano’s hard fork and network update. From March 1st, 16.00 GMT, Binance will pause all deposits and withdrawals on the Binance platform. Then, about five hours later, they will resume normal services.
However, the exchange confirmed that the pause would not affect trading activities. Cardano won’t be minting new coins. Also, immediately the network is stable, the exchange will start providing its complete services. However, it doesn’t intend to announce the service resumption beforehand.
Cardano Remains Bullish
This update is coming for Cardano when its market capitalization is on an uptrend. Surprisingly, Cardano went a bullish run for its ADA coin to hit new price peaks when most other altcoins experienced downtrends in their prices. Even bitcoin and ether, which had previously achieved double figures percentage profits, were not left behind in experiencing a price correction. As of this writing, ether and bitcoin are both down by 6%. Conversely, ADA has achieved a 10% price surge within the past 24 hours.
Also, its market capitalization reached a new high yesterday, February 26th, 2021. While it hit a $1.48 trading price, it has had a slight decline to $1.42 as of this writing time. Its previous all-time high was $1.18, which it reached in the first week of 2018. ADA’s market capitalization started its ascent from last month until it broke its previous ATH on the 14th of this month. Then, it reached a new high of over $46 million today. Right now, the market cap remains in the $46 million range.
ADA Reigns Supreme Among Its Peers for Now
Right now, ADA’s ascent gives them supremacy over other projects such as dot and XRP. All three of them have been jostling for the fourth position in ranking in recent times. XRP by ripple occupied the third spot before it was snatched by the tether (USDT) stablecoin when market forces became less favorable to them, especially the legal battle with the SEC.
However, Cardano continues to rise in strength, and it keeps breaking new heights while USDT and XRP continue to experience a decline. Hence, ADA maintains its spot as the top three cryptocurrencies when measured by market cap.
Even though Cardano does not have any app or Defi running on its platform like the Binance Smart Chain runs on the Ethereum network, ADA continues to enjoy a bullish run fueled by bitcoin’s bullish trend in recent times.
Cardano Continues to Work On Its Platform’s Interoperability
The expected March 1st rollout of the Goguen rollout is set to help the platform be at the forefront of decentralized finance (Defi). The increasing number of Defi platforms last year highlighted the need for less expensive transaction costs, very fast production capabilities, and interoperability.
Like other projects seeking to have compatible platforms, Cardano also aims to build something better. Yesterday, the operation’s team confirmed that it would provide all necessary assistance to develop the Glow language. When Glow is fully integrated, developers’ works can be interoperable across various platforms.
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