Over the past day, the value of the digital coin has increased by almost 15%, and its capitalization has exceeded $92.4 million

The price of the Cardano cryptocurrency has updated the historical maximum at $2.9. Over the past day, the value of the digital coin has increased by almost 15%. Cardano’s capitalization exceeded $92.4 million, according to CoinGecko. During the month, the cryptocurrency grew by 142%.

Cardano has doubled in price. What is the reason and what will happen next?

The price of Cardano is growing on the eve of the blockchain update. Director of Marketing and Communications at IOHK (Cardano issuer) Tim Harrison announced the release of the Alonzo hard fork on September 12, which will add support for smart contracts and the ability to create decentralized applications (DeFi) to the Cardano blockchain.

DeFi is a financial instrument in the form of services and applications created on the blockchain. The main task of decentralized finance is to become an alternative to the banking sector and replace traditional financial system technologies with open source protocols.

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