Cardano price surges another 30% on first use case – market cap 80% of bitcoin cash
Daily Look

Cardano price surges another 30% on first use case – market cap 80% of bitcoin cash

After Cardano coin’s market cap surpassed that of litecoin, the digital coin continues to higher and higher ground. The price of the Cardano coin is up some 30% in the past 24 hours, already worth around $0.92, getting closer to parity with the US dollar.

The ADA coin’s leap sends the market capitalization to $24 billion at the time of writing. Looking down at Litecoin (LTC), the market cap is only $14 billion despite a rise in its own value. Nevertheless, it is far behind. The battle seems to have been won for now.

Looking up, Cardano’s market cap is around half of that of bitcoin cash (BCH) which is at $49 billion according to CoinMarketCap. So, there is still some way to go, but the rapid ADA advance is impressive.

Update: Cardano isn’t stopping and has reached $1.27. Its market cap hit $32 billion compared to $41 of bitcoin cash, placing it at some 80%.

Academic use of ADA in Greece

Cardano coin received its first real-world use in Greece. The national research and education network in the European nation,  GRNET and a company called IOHK are working on a pilot program that will verify the authenticity of student diplomas according to BitcoinMagazine.

Part of the funding for the program comes from the European Union, via the Horizon 2020 program for innovation and research. It will be built on  Enterprise Cardano, a private ledger version. 3 universities will take part in the pilot.

Will this real-world use of ADA spread and be used elsewhere? This is still to be seen, but the initial pilot involving academia and funding from the EU certainly helps boost Cardano’s price.

For another perspective on the price development of Cardano, here is the ADA/BTC daily chart. There is clearly quite a leap since mid-December. The price of bitcoin surged and fell while Cardano continued higher and higher.

More:  Ripple price: Rumors of Coinbase beta testing help stall the big correction

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.