Cardano has updated its annual value record

The Cardano digital token ADA $0.88 Cardano -1.64% Market capitalization $31.56 billion VOL. 24 hours $0.21 billion has shown significant growth, reaching $ 0.3634 in morning trading on Wednesday, November 6. According to cryptocurrency experts and market analysts, this was the largest one-day price increase since January — by 10%. This raised the market capitalization of Cardano to $ 12.64 billion, although the figure remains far from the historical high of $ 94.8 billion.

Over the past day, ADA traded in the range of $ 0.3336 to $ 0.3634, and over the past week, its price fluctuated between $ 0.3206 and $ 0.3636. Over the past 24 hours, the trading volume of Cardinal ADA amounted to $ 544.9 million, which is approximately 0.3% of the total volume of cryptocurrency trading.

Despite the current growth, the price of Cardano is still 88.27% below its all-time high of $ 3.10 reached in September 2021.

Other major cryptocurrencies also showed positive dynamics: Bitcoin reached a new all-time high of $ 75,327, and Ethereum rose to $ 2,622.95, although both cryptocurrencies later declined.

As a reminder, after the Chang Hard Fork update, Чарльз Хоскінсон" href="https://noworries.news/biography/charlz-hoskinson/" data-bio-id="10 311">Hoskinson emphasized the advantages of Cardano, in particular its new governance model, which distributes power more widely than the Ethereum network. He criticized Бутерін" href="https://noworries.news/biography/vitalij-buterin/" data-bio-id="3642″ data-wpel-link="internal">Vitalik Buterin 's Ethereum blockchain for its dependency and called the platform’s governance system a «dictatorship.»

Hoskinson emphasized that the changes in Cardano’s governance promote greater collaboration between community members and allow for regular decision-making and updates to the blockchain development roadmap. He noted that innovations on the platform will continue even without his personal involvement.

The confrontation with Ethereum has been going on since Hoskinson left the project he co-founded. Despite the fact that Ethereum ETH $3,273.78 Bridged Ether (StarkGate) -1.44% Market capitalization $0.29 billion VOL. 24 hours $1.2 billion is leading in terms of adoption and market position, Hoskinson hopes that Cardano will be able to strengthen its competitive position.