Cardano’s native token has rallied on excitement surrounding the Vasil hard fork
The price of Cardano (ADA) has spiked by more than 8% over the past 24 hours, reaching $0.51 on the Binance exchange.
The cryptocurrency, which underpins one of the top proof-of-stake blockchains, has now surpassed Ripple-affiliated XRP by market capitalization. The two aforementioned cryptocurrencies are currently valued at $17.6 billion and $17.5 billion, respectively, according to data provided by CoinMarketCap.
Still, ADA is down a whopping 83% from its current all-time high that was reached back in September.
The Vasil hard fork euphoria has been the main bullish catalyst behind the recent rally. The exact date of the launch is yet to be announced by the Input Output team.
As reported by U.Today, the launch of the hard fork was postponed in late June.