Cardano (ADA), hit all-time high 5 years ago and 'silent'...When will it reclaim its previous peak?

▲ Cardano (ADA)

Cardano (ADA) still shows a significant gap from its all-time high of $3.09 recorded five years ago.

According to the cryptocurrency media outlet U.Today on September 14 (local time), market data platform CoinGecko stated that exactly 5 years and 11 days have passed since Cardano recorded its all-time high of $3.09. The all-time high was recorded on September 2, 2021. At that time, Cardano was preparing for the Alonzo upgrade.

The Alonzo upgrade was a key update that introduced native smart contract functionality to Cardano. It included the Plutus smart contract platform and was launched on September 12, 2021. However, despite several subsequent rallies, Cardano has not been able to retest the $3.09 mark. The decline from its all-time high stands at 93.19%.

U.Today pointed out that Cardano needs to rise by 1,371.43% to reclaim its all-time high. The market is paying attention to whether the $3.09 record, unbroken for over five years, can be surpassed again. However, the media did not specify a timeframe for the re-breakthrough.

Technological development continues within the Cardano ecosystem. Cardano has been officially included in the x402 codebase and supports x402 payments on the mainnet, pre-production network, and preview testnet. SundaeSwap is scheduled to launch its v4 protocol on the Cardano mainnet on October 1. This will introduce modular pools, automatic path routing, concentrated liquidity, and multi-asset pools.

Scalability improvement work is also underway. Ouroboros Leios is 96% complete in its preparation to demonstrate a transaction processing performance of 1,000 transactions per second. This scalability upgrade is expected to be introduced on the Cardano mainnet this year. Cardano is moving towards the Dijkstra era after the introduction of on-chain governance.

[Article Key Summary]

-Cardano remains 93.19% below its all-time high of $3.09, recorded on September 2, 2021.

-Cardano needs to rise by 1,371.43% to reach $3.09 again.

-Ecosystem expansion continues with x402 payment integration, SundaeSwap v4 launch, and Ouroboros Leios development.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*